Indian markets settled sharply lower on Tuesday amid further weakness in rupee ahead of US Fed policy meeting. Banks, consumer durables, PSU and capital goods led the fall in the market.

A small correction is expeceted in near term whereas support is expected around 5760. Best trading strategy would be sell onr rise.

The NSE Nifty is likely to consolidate around the current levels, as select key momentum oscillators are favouring the bulls on the daily charts, while key oscillators remain in favour of the bears on the weekly charts.

The index closed at the 200 day moving average. Use the next support at 5,775 as a stop loss for long positions. Use the resistance at 5,850 as a stop loss for shorts. Breakouts or breakdowns could go till 5,725 or 5,900. There's a slight downside bias.

Jaguar Land Rover's (JLR's) May 13 wholesale volumes have come in at 31,210 units; up four per cent y-o-y. This is slightly below our estimate of 32,000 units.

Smartinvestor : The markets have opened on a cautious note ahead of the FOMC meet.

The upside seems limited from current levels.

As expected technical bounce is expected on charts whereas resistance is expected around 5920. Best trading strategy would be buy on dips....

The market saw a recovery in the past three sessions. The Nifty saw gains despite the RBI credit policy maintaining status quo. The next trigger is the US FOMC (Federal Open Markets Committee) meeting that starts today and concludes on Wednesday.

Resistance at current levels.

The NSE Nifty may look to extend the pull-back to 5,900-odd levels in the near term.

Near term trend is down on charts, technical bounce could be expected.

The Nifty closed in the negative territory for the second consecutive week. As expected last week, it has achieved short-term target levels after breaking out of range on the downside from a consolidation pattern. It made a low of 5683.10 levels.

The markets ended lower for the second consecutive week, amid concern over the pace of economic growth and a drastic fall in the rupee. However, the Sensex recovered some of the losses on Friday, owing to hopes of a rate cut by the Reserve Bank of India.

The NSE Nifty may stage a pull-back in the next couple of trading sessions as key momentum oscillators have entered oversold territory.

Indian markets pared some of its losses and is trading off from day's low, closed below the psychological level of 5700 for the first time since 17th April.

Trend is down on charts, best trading strategy still remains the same "Sell on rise" until we get a clear bullish trend on charts.

The bearish trend continues. Support at 5,675, with further supports every 25 points down. Resistance at 5,725, with more at 25-point intervals up.

The trend continues to remain down for the NSE Nifty in the near term. The bears are likely to have the upper-hand on Thursday as long as the index trades below 5,750. On the downside, the index is likely to test 5,710-odd levels.

Trend is still down, best trading strategy still remains the same, sell on rise...