The global spotlight remains on the Federal Reserve's upcoming rate decision. Unexpectedly high US inflation figures for March have quelled expectations for a coordinated rate cut by major central banks in June. Iran's president issues a stern warning against any Israeli invasion, while Dubai grapples with severe flooding due to record rainfall. President Biden's plan to increase tariffs on select Chinese goods aims to protect American manufacturers. Despite Iran’s assault on Israel, oil prices decline to $82.85 a barrel, and India anticipates an 'above normal' monsoon this year. Technical analysis suggests Nifty's trading range to be between 21700-23000, with key resistance at 22500 and support at 22000. Adani's substantial investment in Ambuja Cements and the launch of Vodafone Idea's follow-on-public offer, potentially India's largest FPO, are notable business developments. Preferred trading strategies include buying Nifty between 22000-22050 and Bank Nifty between 47100-47300.
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