By a Staff Reporter: Yesterday Night US market turned into Green from red. Dow jumps 380 points, Nasdaq surges 2% in relief rally after Fed gives rate hiking timeline < 3 rate hikes projected in 2022, followed by another 3 in 2023> & Increase Taper at 30 Billion $ per Month. Uncertainty was there before Fed but investors digested the latest policy move from the Federal Reserve.
As Fed event is out now we should see trending move. Plan remains the same for Swing Traders.
Nifty yesterday declined 103 points to 17221.40 and formed a bearish Engulfing pattern on the daily charts. Main range 17200-17400. Trending move specially beyond that either side.
Expectation of big surging initially but requirement of stability above 17400/450 is essential.
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