Waiting for the US Fed meeting outcome

Nifty Trader • June 15, 2022

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Index	Price	Change	% Chg
NIFTY 50	15692.15	-39.95	-0.25%
NIFTY BANK	33339.00	+27.65	+0.08%
BSE SENSEX	52541.39	-152.18	-0.29%

Daily closing price, change and % change of benchmark indices.

Nifty slides while waiting for the US Fed meeting outcome

Nifty falls 40 points amid mixed global cues and continued FII/FPI outflows. The indecisiveness continues as the investors wait for the US Fed meeting outcome. It was a dull market with low volumes waiting for the US Fed meeting outcome.

Investors expect a 50-basis-point increase at the US Fed meeting, though, it appears that the market has already priced in a 75-basis-point rate hike.

For the fourth day in a row, equity benchmark indices were down.

Nifty recorded an intraday high of 15784 and a low of 15679. The gap between the high and low prices was 105, the lowest in the last 7 days, making it an NR7 day.

Furthermore, the Nifty is trading below its 20-day, 50-day, and 200-day simple moving averages. On the other hand, the Nifty Bank was marginally up by 28 points or 0.08 percent.

Nifty down while waiting for US Fed news. — Nifty – Gap down – major hurdle to cross

The advance-decline ratio was 1.19, and the market breadth was positive. This is the best reading of the advance-decline ratio in the last 9 days.

The volatility index, on the other hand, raised by 1.18 percent to 22.15.

NIFTY – DAILY MARKET ACTION
Advancers – 1145
Decliners – 961
52Wk High – 13
52Wk Low – 80
High Band Hitters – 101
Low Band Hitters – 57
200d SMA – 17253
50d SMA – 16679
20d SMA – 16258

Top Gainers and Losers

Bajaj Finserv up +4.22 percent, Bajaj Finance up +2.22 percent, Tata Motors up +1.93 percent, Hero MotoCorp up +1.78 percent, and Grasim up +1.73 percent were the top gainers on the Nifty 50.

Meanwhile, ONGC down -3.17 percent, NTPC down -2.05 percent, Infosys down -1.34 percent, Reliance down -1.23 percent, and Wipro down -1.22 percent were the top losers in the Nifty 50.

Sectors & Broader Indices

On the sectoral front, it was a mixed bag. Auto, pharma, Financial Services, and consumer durables were the day’s biggest gainers, while oil & gas, realty, metal, IT, and FMCG were the biggest losers.

Further, the broader indices outperformed the benchmark indices. The Nifty Midcap 50 was up 0.43 percent, while the Small-cap 50 was up 0.73 percent.

NIFTY SECTORS – NOTABLE ACTION
AUTO +0.92%
PHARMA+0.35%
FINANCIAL SERVICES +0.27%
OIL & GAS -0.76%
METAL -0.72%
REALTY -0.61%

Looking Ahead – Inflation & US Fed

Nifty has broken down the box of 15800-16800 and is charting in the negative territory. Therefore, the bias is negative because of headwinds relating to interest rate hikes by the central banks.