1. The Federal Reserve launched another aggressive stimulus program on Thursday, saying it will buy $40 billion of mortgage debt per month and continue to purchase assets until the outlook for jobs improves substantially.
2. The government raised the price of heavily subsidised diesel on Thursday, in a politically risky move to rein in the fiscal deficit and fight the threat of being the first in the BRICS group of emerging economies to be downgraded to junk.
3. Domestic government is in strict action. The Inter-Ministerial Group's (IMG) on coal blocks allocation has recommended cancelling allotment of four mines to private firms and encashing bank guarantees of two other firms for not developing the mines within a prescribed time.
These all three above news will flow extra inflow in the market on friday. Dow is 155 points up at the time of writing report and sgx nifty is trading at 5500.
Since so many days I have been saying that good green rally is awaiting in Indian market. Still i would like to say here that more upside is due in our market..
Technically market has given second day closing above breakout line. 5555 is minor resistance now market will try to kiss5630 very soon.
ALERT ALERT ALERT
5705 COMING SOON
