U.S. stocks found their footing in the final hour of trading on Monday., after flipping between gains and losses.

Investors prepared for a Federal Reserve meeting (that ends on Wednesday) that’s expected to deliver another large interest-rate hike

A rate hike of three-quarters of a point is expected, and attention will be put on the accompanying dot plot of rate projections.

A rally in megacaps like Apple Inc. and Tesla Inc. drove the rebound.

Nifty managed to close above the upward sloping trend line adjoining the daily lows of 20th Jun and 1st July 2022. Resistance for the Nifty are seen at 17,760 and 17,826.

Indian markets could open higher, in line with positive Asian markets today and higher US markets on Monday.

Above 17,670, Nifty could extend the gain towards 17,734 and 17,820. Intraday supports for Nifty are seen at 17,580, 17,500 and 17,430. Stock specific bullish moves is likely to continue.

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U.S. stocks ended in the red on Friday, falling to two-month lows as a warning of impending global slowdown from FedEx.

FedEx shares plunged 21.4% after the global shipper and economic bellwether late Thursday withdrew its annual outlook

Nifty ended sharply lower for the second consecutive session on Sept 16th pulled down by weak global cues. It was the highest percent fall since June 16, 2022.

On upmoves, 17,771 may be difficult to breach in the near term.

Indian markets could open flat, despite mostly lower Asian markets today and negative US markets on Friday.

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Breadth of the market is weak, with 1:3 advance decline ratio at NSE. Bias for the day is negative and next support for the Nifty is seen at 17,500, which happens to be its 34 days EMA.

U.S. stocks closed lower on Thursday with technology stocks leading the way down, as bond yields marched further ahead. S&P 500 futures fell further after the close as FedEx withdrew its financial forecast and added to worries about a slowing global economy.

The yield on the US 2-year Treasury note climbed for a sixth straight trading session on Thursday, reaching its highest level since October 2007.

Oil futures tumbled more than 3% on demand concerns.

18,096-17,692 could be the band for the Nifty in the near term.

Indian markets could open lower, in line with mostly weaker Asian markets today and negative US markets on Thursday.

Today is a weekly expiry session of the Index options. Till now in the September series Indian markets have remained resilient. A level of 18,100 has become strong resistance for Nifty and unless we see move above that, aggressive longs should not be taken. On the downside, Nifty has got support at 17,700, below which, weakness could extend.

U.S. stocks ended slightly higher on Wednesday after swinging between gains and losses for much of the session.

Nifty opened gap down on Sept 14th but showed remarkable recovery to wipe off most of the losses.

Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today and mildly positive US markets on Wednesday.

Breadth has significantly recovered post opening of the markets. Today’s open and low is same at 17,771, which indicates bullish sentiments for the day.