US FED announces a 50 basis point cut, Gimme my IT Rally please, its overdue.... so the last minute heavy buying of Nifty futures was informed sources or gamblers ???? Dow up 97 points as of now, but its already rallied long way from bottom, so sell on news attitude ? maybe still 1:30 hours to go for the Dow to do its jig, may it rise in peace.
Also please note FII's today may have sold in cash 911 crs. but bought more than 1200 crs. of Nifty & Stock futures, same is the case in last few days, sell in cash but buying more in futures, so must be covering their shorts.
Update: Dow ended down -37 (Remember Dow rallied more than 1000 points from its lows) & Asian market not too impressed by the cut, lets see what our markets do especially today being settlement day. Break of 5150 may test 4850/4900 levels.
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