Nifty hit 35 Month high. Will FOMC Decision will Spoil Sport ????
A day ahead of the word on US Federal Reserve's 85 billion-a-month bond buying program also known as QE3, Indian stock market was fuelled by what could be its last inflow of foreign liquidity if Fed decides to give a Diwali cracker and choses to announce a date for tapering QE3, earlier than what is expected. Analysts however agree this will not be the case as US Fed will be looking for more tangible signs of an economic recovery. However, analysts widely believe that tapering will not begin until March 2014.
The October government shutdown is also believed to have slowed down the economy in Q4. "It will be 2014 before we are able to see a number of months of economic data that may convince the FOMC that the recovery is continuing at a solid pace," said Rabobank Financial Markets.
Market is expected to remain volatile tomorrow as Indian investors mull over taking or rolling over positions into November series F&O contracts.
>>> NIFTY <<<
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Nifty made a New High - But caution advised as I feel the 5 wave upmove might have ended. FOMC decision should be the eye opener. Lets wait and See.
>>> Rcom - As given Yesterday <<<
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>>> Happened <<<
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