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Tuesday, September 20, 2011

Nifty Update-FED FOMC week

Too much volatility within a very small range. Difficult to trade if you are seated in office and not glued to LIVE CHARTS .  DHanvarsha ( that all this moves are a result of SHORT covering .And it surely looked like no one wants to be in the market and FIGHT the FED.

Metal like COPPER isnt showing signs of BIG QE. Also David Rosenberg in ZeroHedge said that there might be a BIG sell-off if there isnt a BIG-couple-100-billion QE.  Another article I read today : says that Emerging markets are in a very BAD shape.

. But I got this chart. I find it very hard to believe that NIFTY WILL CROSS that MAGENTA horizontal line at 5196. Come WHAT MAY. All TECHNICALS are OVERBOUGHT.


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