Markets rebounded on Monday on back of positive sentiment amidst festival cheers with Nifty attempting to test crucial resistance of 18034 which it violated last week. The volume on Monday remained lower due to muted activity from FII but with BNY India ADR Index trading a mere 1.5% away from major breakdown, one needs to remain ultra-cautious despite optimism by domestic players. The Brent crude also remains vulnerable to major spike above USD 86.32 a bbl and may trigger 15-20% upside in short term thus putting Indian markets under major shock. Formation of weekly bearish engulfing pattern in Bank Nifty in previous session also indicates that the current upmove to remain unstable with investors awaiting the crucial Fed decision on tapering. Results today- Bharti Airtel, HPCL, Sun Pharma, Bank of India, Godrej Properties, Union Bank of India.<\/p>\n\n\n\n
U.S indices saw record closing highs as Tesla shares surged and the energy sector gained while waiting for the outcome of major Federal Reserve meeting later in the week. The Dow Jones Industrial Average rose 94.28 points, or 0.26 percent, to 35,913.84, the S&P 500 gained 8.29 points, or 0.18 percent, to 4,613.67 and the Nasdaq Composite added 97.53 points, or 0.63 percent, to 15,595.92. Asian shares open mixed as traders await crucial Fed decision.<\/p>\n\n\n