NEW DELHI: What’s in a number?The Nifty50 hitting the magic number of 10,000 surely speaks volumes for buoyant market sentiment, but it does not guarantee that your investments would remain in-the-money going forward.But at such dizzying heights without the necessary props, the Nifty50 is at risk of falling like nine pins at the drop of a hat. And what could possibly play party pooper on Dalal Street.Hours after the Nifty50 hit the 10,000 mark on Tuesday, the US Fed’s Open Market Committee meets to review its money policy and take a call on possible unwinding of its $4.5 trillion balance sheet. Economists in a Reuters poll said the Fed could chart a direction only in September policy review. The US central bank will wait until the fourth quarter before raising rates again, the economists said in the poll. But who knows what Ms Yellen has up her sleeve.Sanjeev Jain, AVP-Equity Research, Ashika Stock Broking said, "An interest rate hike by the US Federal Reserve and its commentary, if hawkish, may affect market sentiment.”Meanwhile, policymakers at the European Central Bank (ECB) see October as the most likely date to decide whether to claw back stimulus and consider December, an option flagged by staff, as too late for hardening, four sources with direct knowledge of the discussion told Reuters.Asia is in the eye of storm. Fears over persistent tensions between North Korea and the US have now been hijacked by a Sino-Indian border dispute.The Chinese defence ministry on Monday warned India not to harbour any ‘illusions’ about the Chinese military's ability to defend its territory.“Volatility cannot remain at this level for a very prolong period of time. We do not know what event could affect the market, it could be anything, it could be geopolitical or economical. But I would say this level of volatility and complacency one has to be really alert. Whenever the fall will come it will be sharper than what people are expecting,” market veteran Madhusudan Kela said on Tuesday.Prices of basic vegetables have increased in the retail market, raising concerns over a possible spike in food price inflation which can potentially stall a rate cut by RBI in August. Tomato prices in Delhi's retail market have skyrocketed to Rs 100 per kg and there is no respite expected for at least another two weeks. If that’s a hint, then we may be seeing a reversal of the softening inflationary dynamics in the short term. Some experts are already projecting inflation to rise in July. That does not bode well for rate cut hopes.“We expect CPI to rebound to over 2 per cent amid a spike in vegetable prices in July, though we expect core inflation to remain contained,” said Edelweiss Securities in a note.While Opec and non-Opec nations have been notorious in implementing production cuts, any sudden spike in oil prices may hurt crude-importing economies such as India.On Monday, Saudi Arabia pledged to curb exports from next month and OPEC called on several members to boost compliance with output cuts to help rein in oversupply and tackle flagging prices. In addition Halliburton's executive chairman warned that the growth in North America's rig count was "showing signs of plateauing," a possible threat to US shale oil production. Global benchmark Brent crude for September delivery was up 28 cents at $48.88 a barrel, while US WTI futures were up 28 cents at $46.62.The June quarter earnings season has been positive so far. But things can change any time.“Valuations are now discounting good earnings growth for the next year and any disappointment on the same might lead to sell off in equity markets. Retail investors should be preferring regular periodic investments in equity markets rather than bulk one time investments to spread out the risk,” said Rakesh Tarway, Head of Research, Reliance Securities.