The normal sense would say that don't do anything, actually this is the market in which you may want to just now stay on the sideline and not trade or at least not take over night positions because you never know what might come from the Fed.
The kind of volatility we are likely to see is really going to be incredible. The India VIX is up 8 percent this month but that could be just a teaser. My sense is that what you saw yesterday 200 point Nifty swing in three major moves.