Marketbuzz Podcast with Kanishka Sarkar: 22,000 key Nifty 50 level to watch, Fed policy this week and more

Welcome to CNBC-TV18’s Marketbuzz Podcast bringing you all the important cues ahead of the trading session of March 18

Here’s a look at top cues to track today

- A key question is if the Nifty will continue to hold on to the 22,000 level after the worst week in five months. Experts say that Nifty's momentum indicators suggest bearish momentum in the near-term. Nagaraj Shetti of HDFC Securities said that the short-term trend of the Nifty remains weak and a decisive move below 21,900 can open sharp downsides towards levels of 21,500 in the near-term. Therefore, 22,000 remains the immediate resistance mark.

- Following the orders of SEBI and AMFI, many reserve funds have released the results of stress tests. Nippon India Small Cap Fund, an asset base holding company with around ₹46,00 crore, says it has accumulated 50% of the portfolio in equity in 27 days. At the same time, Edelweiss Mutual Fund says that it has created 50% of its portfolio in 2 days of investment. The results of the stress test will be issued to all these French fund houses every 15 days after March 15.

-Wall Street awaits guidance on monetary policy from the Federal Reserve this week. In the previous session on Friday in the US, all three indexes fell as inflation concerns remain front and center ahead of the Federal Reserve’s policy meeting. The S&P 500 lost 0.65%, while the Dow Jones Industrial Average dipped half a percent and the Nasdaq Composite slipped almost a percent.

-This morning, Japan’s Nikkei 225 index led gains in Asia-Pacific markets on, ahead of a week full of central bank meetings, while investors awaited a slew of economic data from China. Japan’s Nikkei 225 rose 2.1%, while the Topix climbed 1.6%. Hong Kong’s Hang Seng index opened 0.27% lower, while the CSI 300 index was 0.17% higher.

- China is set to release a slew of economic data, including its February retail sales, industrial output, and urban unemployment numbers.

-Oil prices ticked up in early trade, firming up gains from last week when prices rose nearly 4% on the view that supply was tightening. Brent crude oil futures for May delivery were above $85 a barrel.

- Stocks to track: Zomato, HDFC Life, Aurobindo Pharma, Coforge, Adani Group stocks, Aditya Birla Fashion, Crompton Greaves, SJVN, Hindustan Aeronautics, LIC

-In other news, the Election Commission announced dates for upcoming Lok Sabha polls as well as simultaneous elections to four states in seven phases starting April 19. The results will be announced on June 4.