Even after yesterday’s volatility nothing much has changed for NIFTY outlook. Professionals will offload during any major bounce today as the big event looms tonight ( FOMC meeting at 2 PM EST ). Tomorrows price action is kinda coin toss because events tonight can move the market 200 points in either direction. Patience is advisable for today’s trading session unless major support ( 8450 ) or major resistance at – 8800 is challenged. We will be looking for opportunity to establish ‘strangle’ ( buying calls & put simultaneously ).