Feedback on Federal Reserve meeting - Mr. Vivek Gupta, Director Research, CapitalVia Global Research

Outcome of Fed Meeting had already came. The Federal Reserve on Wednesday indicated that it's heading to raise interest rate soon, but not immediately and signalling that it is in not in hurry to increase the rates. The Fed said that "The committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen further improvement in the labour market and is reasonably confident that inflation will move back to its 2 percent objective over the medium-term."

The Federal Open Market Committee also removed the word "patience" from the statement released & raised the hopes for a hike in interest rate in the next couple of months while kept a cautious note on the health of the economic recovery. The Fed Chairman Yellen says that " A rate increases could be warranted after the April meeting, but the timing of initial increase is undecided."

The rate hike would be expected in September rather than June when the Fed is more confident about inflation & labour market condition. Indian Stock Market opened on a positive note The Sensex was up 334.17 points at 28956.29 and the Nifty was up 93.10 points at 8779.00.Currently Nifty Futures is trading at 8745, next resistance level for Nifty is 9030 & it has a strong support of 8530 further we are expecting market to move in a range of 9000-8500. So traders can sell when Nifty Futures hovers around 9000 & can add further long when it trades around 8500.

Source : Equity Bulls

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