Well Monday's low of 5071 still protected by the bulls, after initial weakness Nifty has recovered has climbed back above the trendline showed yesterday, the 5150 has now shifted to 5185 which needs to be sustained today.
Asian markets mixed after fed but none showing major weakness, seems all in their process of making temp bottoms.
Damned if you do damned if you don't is the situation of USA, FED cut 50 basis points was supposed to be making the bulls happy, but now they think if fed is ready to cut so aggressively there must be something really wrong.
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