We can see a 400 points rally in nifty either today or tomorrow, as the type of candle formed in nifty chart gives an indication of bottom forming or formed. Bothways its quite clear that some bounce back is expected and 5300 is the maximum target for nifty right now, if it crosses this level on closing basis then 5450-5500 can also be acheived, above which its quite difficult to see that if it can touch 6000 levels or not.
FED rate cut is good for our markets and will improve overseas liquidity, but such a massive fall can be recovered by friday closing, is yet to be seen, falling is easy, climbing is difficult, its all GRAVITY!
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