Anand Rathi: Wait for clear trend to emerge

Anand Rathi Securities in its marklet outlook says low volumes in the cash segment in Monday's session clearly showed lack of conviction amongst both institutional as well as retail participants and could also be attributed to the absentees due to rainfall hit in the financial capital.

The derivatives data also pointed towards this fact with the OI remaining almost flat with again of 0.4%. But lack of volumes points towards lack of conviction and goes in favor as this would emerge as a major support for the market at current levels.

In today's trading session sentiments are expected to remain that of extreme caution.

The US markets closing in the red ahead of the US FOMC meet yesterday has been nullified by the Asian Market opening in the green in today's early market trade.

Traders need to practice restrain from initiating any fresh trade unless and until market takes any one clear direction.