Synopsis The global markets have largely digested what was a taper-without-tantrum and have inched higher. The Indian markets will open on Monday following two days of holidays as Thursday just had a token one-hour Mahurat trading session. The open on Monday will largely adjust to Friday's global trade setup which has been steady and buoyant. In a three-day trading week truncated by festivities, the Indian equity markets attempted to stabilize on the expected lines. It rebounded from near the 50-DMA levels and also took support on an 18-month long upward rising trend line on the weekly charts. The NIFTY stayed in a narrower 315-point range as it closed near the crucial resistance point of 18000 levels. During the week, the NIFTY reacted to the FOMC outcome where it mostly digested the tapering of the bond purchases by the Fed which was largely discounted by the markets. The NIFTY ended with a net gain of 245.15 points (+1.39%) on a weekly basis. The global markets have largely digested what was a taper-without-tantrum and have inched higher. The Indian markets will open on Monday following two days of holidays as Thursday just had a token one-hour Mahurat trading session. The open on… Read full this story
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