With the 3 day continuous destruction of the global markets, it is obvious that there must be a relief rally, which is already on cards and the same happened with global markets on Wednesday. The rally was also backed by the fed announcement of unchanging the interest rates till 2013 .If you think its celebration time and park your investments, then you are digging your own grave. Mega investor Mr. Rakesh Jhunjhunwala in an interview said that in this turmoil situation its better watch markets for 3-4 days instead of predicting the bottom.
Today the US markets opened in red and fell sharply with the fears of french debt default. French banks holds 350 million USD italy's debt on their books. So, indian markets may be plunged on friday's trading.
The world is eagerly waiting for the important fed meeting which will be held on August 23rd 2011, in which hopefully a resolution will be brought over the debt crisis. That will be the major market trigger as on now.
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