NIFTY ABOVE 8,800 ; US FED ACTION EYED

The Sensex ended with a loss of 16 points at 28,507. The Sensex opened at 28,554 touched an intra-day high of 28,689 and low of 28,462.The Nifty closed with a loss of mere one points at 8,777. The Nifty opened at 8,790 hitting a high of 8,827 and low of 8,757.30. Markets erased intra-day gains to end flat after investors turned cautious ahead of the US Federal Reserve's decision on interest rate later today. Indian Stock Market was open flat with negative bias. Technically analysis would still remain same, Nifty is in Positive zone but BankNifty is still in negative zone. BankNifty would enter into positive zone once it closes above 20080 levels. Market would remain volatile before US FED meeting and Bank Of Japan’s Monetary Policy. Some correction was seen today but traders should go long at every dip in the market. Once BankNifty enters into positive zone, Indian Stock Market would see a strong comeback and a sharp positive rally would be seen in the market. Until then market would consolidate in a rangebound region. Traders should buy at dips until Nifty holds 8750 levels on closing basis. Breaching levels of 8688 for Nifty would force market to see a sharp downfall, so traders can hold long positions with strict stoploss of 8688 spot levels for Nifty.

EVENTS TODAY :

In overseas stock markets, European stocks edged higher after the Bank of Japan (BoJ) announced new monetary policy measures and as investors awaited the outcome of the US Federal Reserve's policy meeting .Indices rallied tracking positive trend seen in Asian markets after Bank of Japan unveiled a slew of fresh changes to its policy stance after its meeting on Wednesday, but kept rates unchanged. Japanese stocks led gains in Asian markets after the BoJ kept its deposit rate steady at minus 0.1% after the conclusion of its two-day monetary policy meeting today, 21 September 2016. Japan's central bank also said it would purchases of long-term government bonds with an incremental 80 trillion yen per year. Japan's Nikkei 225 Average ended 1.91% higher. BoJ also said it would expand its monetary base until inflation becomes stable above 2%. The central bank said it is committed to achieve 2% inflation as soon as possible. The central bank has decided to scrap its monetary base target.

TOP GAINERS:  Adani Ports, Bharti Airtel, GAIL, Axis Bank, Sun Pharma ,Power Grid

TOP LOSERS:  Hero MotoCorp, Maruti Suzuki, Bajaj Auto and ONGC