Thursday, September 19, 2013

S&P 500 and Dow at record high, Australian stocks on 5 years' high.Nifty may open above 6100.

Can Indian markets will digest the gap up opening ? 
Nifty will pass over its important resistance level of 5990 with no respect. But the question is about to sustain and to enter into new zone above 6338. Now, eyes of the investors will be on RBI policy which will be announced tomorrow, first time by our new Governor.

The Federal Reserve on Wednesday stuck to its massive bond-buying strategy, citing softer U.S. growth in a move that stunned financial markets. By a 9-to-1 vote, the Fed chose to keep buying $85 billion a month in debt and said it would wait for more evidence of economic progress.The bank cited rising mortgage rates and reduced federal spending as headwinds that “could slow the pace of improvement in the economy.” In a press conference, Fed Chairman Ben Bernanke said the bank might still scale back its purchases before the end of the year, but it will depend on whether growth and the pace of hiring show greater strength.
“We could begin later this year, but even if we do that, the subsequent steps will be dependent on continued progress in the economy,” Bernanke said. “So we are tied to the data. We don’t have a fixed calendar schedule.”
Bernanke also reiterated that the Fed has no plans to raise short-term interest rates any time soon. The vast majority of bank policymakers don’t expect rates to rise until 2015 at the earliest, and even then, they probably won’t top 2% until at least three years from now.

No comments:

Post a Comment