The Eliminator... Market update...

Hi All,

After reacting to the 8000-7950 levels, Markets faced resistance near a crucial level of 8130-8170-75.

After yesterday’s key announcement by FED, there are no fresh triggers in markets hence it is expected to trade very cautiously with resistances being near 8160-8175-8200.

Short term bias which changed near the bottom of 8k, will continue to flourish if Nifty surpasses 8160-75, and on a successful breakout of 8200 one can think of midterm targets of 8500-8800

On the lower side however, 8040-8000-7940 are key supports a break of which can take Nifty to 7800-7700-7500, which may be called as a correction bottom for the entire up move.

Bulls and bears are really fighting it hard for past few weeks now and therefore its a wait n watch scenario to check who eliminates the other....

Cheers

FED Reserve Rate Announced

Hi All,

FED leaves rates unchanged....

Downgrade 2015 GDP Outlook

There could be rate hike in September...may be 2 rate hikes in 2015

Nasdaq 1%up from the bottom but leaves the positive territory... Negative again

Sgx down 21

Looks like yesterday n today markets discounted the FED Status quo.

Maekets sharply reacted at a crucial level of 8130-60 as posted yesterday and closed below 8100. Tomorrow very crucial... and 7940 will be do or die for bulls

Detailed Note....

US Fed: Voted 10-0 For Fed Funds Rate Action

U.S. FED  : Economy expanding 'moderately,'  job growth picked up

Fed leaves rate unchanged

U.S. growth is really weak but surely it will rebound so we’re going to try to hike rates this year anyway. Yellen.

FED FORECASTS IMPLY TWO QUARTER-POINT RATE INCREASES THIS YEAR

Initial reaction after FED >>> Market turned higher in US, Gold / Silver rally.

Fed sees inflation below 2% target for foreseeable future – but still holds onto idea that it will ‘gradually’ return to target
Fed leaves rate unchanged . Upgrades economic improvement outlook. Fed offers No explicit wordings on liftoff timing. Downgrades 2015 GDP outlook.

Bottom Fishing....

Hi All,

Markets were very uncertain for past couple of days but with the list of mixed cues they did not break crucial supports near 7940.....

Currently Nifty trades at 8047 and looks like if 8162-8200 is taken out nifty should not have any hurdle before 8500 at least.

As per simple Down theory, Nifty should close convincingly above 8125-30 mark to start its journey to higher levels of 8200-8500...

Lets wait and watch, a low risk high reward  (however a moderate level of probability) trading opportunity...

Cheers

Hrishi