Commentary: See the 1st FOMC meeting of Trump Administration as important as people have mixed views of what the Trump Era has in store, do not expect any changes to the interest rate landscape from the Fed officials out of this meeting. For Indian investors, the Union Budget may trigger the next course of movement in the Nifty. Overall stocks are in a corrective mode and have fallen in the last 2 sessions. While the 1st supports hold, expect a bounce to higher marks near term. Pay attention, the next couple of sessions will be important.PE

Nifty at 8561.30, -0.83% fell ahead of the Budget and could possibly bounce back from support at 8500. A break below 8500, points to 8300.

DJIA 19864.09, -0.54% has fallen as expected and could now test 1st support at 19720. A bounce from such a test mark is expected near term.

DAX at 11535.31,-1.25% fell, is heading towards the support at 11400. Although the price momentum looks very strong in here, in case it breaks below 11400, the correction could be deeper push DAX towards 11200, while support at 11400 holds, am Bullish medium term.

Nikkei at 19040.74 recovered some Tuesday from 18916, and the 18800-18700 support marks could produce a bounce back towards 19260.

Crude Oil, Gold, Silver & Copper Markets

Commentary: Gold, Copper and Silver are trading higher on fresh weakness in the USD but there is hardly any movement in Crude Oil prices. So, expect the Crude prices to remain stable for a few more sessions before giving us a directional cue. PE

Gold  at 1210.53, and Silver at 17.50 rose on USD weakness and if The US Dollar (.DXY) Index does not move back from support near 99.00/50 in here see the Gold prices move North 1220-1230.

Brent Crude at 55.40, and WTI Crude Oil at 52.69 are stable, there is no clarity on direction. Need to see if the FOMC meeting Wednesday afternoon has any impact on the Crude Oil prices.

Copper at 2.7225 is up in line with expectation and could test resistance near current marks A break above 2.75 could turn Bullish near term taking the prices towards 2.80-2.85. While resistance at 2.75 holds, may see a dip back towards 2.60 in the next few sessions.