FED feeds - boost to BULLS!

THE WORLD IS JUBILIANT OVER THE Fed rate cut by 50 basis points. The indices are trading by 2-3% surge in their valuations. The yester day move in our markets is a clear anticipated low risk high profit signal. Today the markets are likely to open above 4585 and may close above 4606 and high may cross 4618-21 resistance level.

The best bets are in the banking sector of medium stocks like Vijaya bank, DCB, YES bank and PFC as in news. The softwares likely to participate as a recovery mode and in anticipation of Insurance BPO business in the next 3-5 years. The RCOM has support at 535, RIL support at 2039-41, ONGC support at 835-36, SBI support at 1681-83 and ICICI has support at 916-18 level. The software are fresh to participate in the rally as Sataym has support at 421, Infy at 1801-03, TCS above 1006 and Wipro good above 453. The volumes in the recent four trading sessions can through some light on the market operations.

Early bird catches the fish but being late u r sure of the market movement- balance accordingly that suits u r style of trading. For swing & Day traders, there is nothing right as short or long to make money but mint money from the movements. One may have either “up or down” view on market but ultimately shall respect the market movement.