Karvy Stock Broking said.
Starting next month, the US central bank will cut its purchases of bonds to USD 75 billion from USD 85 billion.
"Global growth outlook remains supportive of equity. In their recent meeting, US Federal Reserve has started the tapering of their bond buying programme as unemployment rates have hit a five year low. US GDP growth rate in last quarter was impressive, underscoring a strong macroeconomic recovery," Goel said.
"Expect markets to trade in a range with a positive bias for near-term," an expert said.