Ahead of Market: 10 things that will decide D-Street action on Wednesday

economictimes.indiatimes.com:

Nifty ended below 19,700 levels after inching very close to 20,000 levels last week. Sectorally, PSU Bank pack emerged as the top laggard. From the Nifty pack, top gainers in a range-bound trade were stocks like Hindalco, Tata Steel, JSW Steel and UltraTech Cement.

Here's how analysts read the market pulse: “Indian indices hovered along the flat line, waiting ahead for the crucial decision of Fed policy. Metal stocks rose due to China's commitment to provide policy support to its realty sector, while utilities were up in anticipation of demand & improvement in operating margin. The recent correction of the domestic market can be attributed to several factors, including muted start to Q1 results, a reversal in FII activity, a rising dollar index, and an increase in crude oil prices,” Vinod Nair, Head of Research at Geojit Financial Services, said.

“The short term movement of Nifty is choppy. Having placed at the support, there is a possibility of an upside bounce in the short term towards the immediate resistance of 19800-19850 levels in the coming sessions. The next support is placed at 19600 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.

That said, here’s a look at what some key indicators are suggesting for Wednesday’s action:US marketThe tech-heavy Nasdaq and the S&P 500 edged up amid choppy trading on Tuesday as investors geared up for quarterly earnings reports from megacap technology companies Alphabet and Microsoft, and a rate hike by the Federal Reserve. With the central bank on track for another 25-basis point interest rate hike on Wednesday, policymakers face a choice over how much weight to put on recent economic data. At 9:49 a.m.