Sensex, Nifty set to halt 8-day of winning streak - Key levels to track on September 15

All eyes on the Fed: Nifty holds firm above 25,000 as traders await US policy outcome

After 8 straight sessions of uninterrupted gains, signals from the GIFT Nifty indicate a muted start for Dalal Street on September 15. As of 8:00 am, the GIFT Nifty was hovering around 25,172, down by 37 points or 0.15 percent.

The benchmark Nifty 50 managed to recapture momentum last week, firmly holding above the crucial technical and psychological mark of 25,000. It wrapped up the week at 25,114, higher by 373 points or 1.49 percent.

Among the sectoral indices, Nifty Auto emerged as the top gainer, lifted by GST rationalisation measures and price cuts by passenger vehicle makers across models. In contrast, the Nifty FMCG index lagged behind, becoming the worst performer of the week.

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Looking ahead, all attention is fixed on the US Federal Reserve’s policy decision scheduled for September 17. The market is currently factoring in a 25 basis points rate cut from the Fed, though the possibility of a sharper 50 basis points cut also remains on the table.

Apart from the Fed’s outcome, any breakthroughs in the ongoing US-India trade talks will be closely monitored by investors.

On the technical front, Hariprasad K, Founder of Livelong Wealth, noted that immediate resistance for Nifty lies between 25,150 and 25,200. A breakout above this zone could potentially clear the path for a rally toward 25,400. On the downside, 25,000 remains the first line of defense, followed by 24,900. Should these levels be breached, a deeper slide towards the 24,800–24,600 range may be tested.

Globally, cues were mixed this morning. Asian markets traded in a choppy fashion as investors tracked the US-China discussions in Spain and awaited fresh economic data releases from Beijing. Australia’s S&P/ASX 200 slipped 0.75 percent, while South Korea’s Kospi surged 0.67 percent to an all-time high of 3,420.23, marking its tenth consecutive winning session. Markets in Japan and Malaysia remained shut for a public holiday.

Meanwhile, US equity futures showed little movement during early Asian trade hours as participants braced for the Fed meeting, hoping for rate relief once Wednesday’s session concludes stateside.

On Friday in the US, the Nasdaq Composite scaled a new record high, sealing its second consecutive weekly advance with a gain of 2 percent. The S&P 500 also added 1.6 percent over the week, delivering its strongest performance since early August. The Dow Jones Industrial Average managed to snap a two-week losing streak, notching up a one percent rise for its first positive week in three.

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