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Indian stocks closed slightly higher yesterday after a volatile session, as investors awaited key inflation data from India and the US. These figures are expected to influence the Federal Reserve's monetary policy decision. The rupee strengthened, with foreign portfolio investors net sellers and domestic institutional investors net buyers.

Asian markets rose on Tuesday, with US stock indices surging and the Nasdaq hitting a new high, driven by expectations of a Fed rate cut following the release of benign inflation data, reflecting positive sentiment on Wall Street. Japanese and South Korean stocks saw higher volumes in early trading, while Australian stocks fell. Earlier, growing expectations of a US rate cut pushed stocks close to record highs.

Trading Recommendation: The Indian Nifty index rebounded from 24,400 points but faces resistance around 25,000. Due to expected volatility, a stock-specific trading strategy is recommended. A break above 25,000 could push the Nifty index towards 25,500 points, while support lies at 24,400 points. Metal and consumer stocks performed well, while IT and financial stocks are currently facing selling pressure.

Stock Tips short term:
1. SHAILY and DRREDDY are worth buying, target 2300
2. CGPOWER is profitable and awaiting an upward trend, target 810