Traders and investors are FOMC meeting to be held on Dec. 17-18. Analysts expect the FED may start tapering of its monthly bond-buying program owing to the recent upbeat U.S. economic data.  The Indian market may experience dramatic price reactions once the tapering is actually announced by the Fed.

Gold fell sharply yesterday but regained some of the losses by the end of the day. It appears gold may retest the strong support which exits at $1180.

Though the Nifty closed at its lowest point in a week, the total turnover on BSE was lower than the usual turnover. Right now there is a support at 6150 below which the Nifty may sink down to 6100! Let us check if Nifty can be supported at any one of the support levels. Members who initiated shorts may cover their shorts today and enjoy the weekend.