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Market Outlook
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US stocks continued its volatile ride post tech led sell off on Tuesday. All the three major indices started the day with gains in excess of 1% but failed to hang on to gains, Nasdaq closed just below the flat line and S&P closed with gains of 0.21%, Dow closed 0.19% higher.

Us 10 year moved sharply higher near 2.82% ahead of next weeks FOMC meet, cboe vix closed just below 32, Us dollar index moved to multi year high near 103.

Crude futures traded in narrow range with small negative bias, WTI traded below 192, Brent below 105.

Global equity sentiments along with volatilty in F&O names ahead of expiry took Indian stocks lower by 0.94%. Nifty closed just above 17000 recovering from intra day loss below 17000 and Sensex lost 537 points at close.

Stocks may continue to remain choppy and April series expiry related volatilty may dominate trade for the day. Optically Nifty seems to hold onto near term support just below 17000 levels but the undertone remains cautious ahead of crucial fed meet and ongoing annual result season. Participants may continue to avoid large trade and keep rotational bias for near term and carry protection against sone unexpected meltdown as newsflow around markets continue to remain uncertain.*

(all prices mentioned above are as on 6.05 am IST)
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