Wall Street bulls celebrated lifting the Dow Jones by 192 points yesterday as Yellen, the new FED chair person, assured that she would continue low-interest rate policies.

This has given enough ammunition to the bulls to resurge in Wall Street and in the other major Asian markets. The Dow Jones indices gained as much as 1.22 per cent yesterday while Japan's Nikkei 225 gained over 1 per cent at the time of writing this newsletter. Hong Kong's Hang Seng gained 0.6 per cent and Singapore's Straits Times added 0.24 per cent so far. Taiwan's Taiwan Weighted advanced 0.77 per cent, South Korea's Seoul Composite was up 0.41 per cent. However, China's Shanghai Composite was marginally down by 0.20 per cent as there are some concerns over the growth in China. Yellen's comments are the most important factor affecting market sentiments which could support the Indian market.

As informed in earlier newsletters, only when the Nifty closes above 6264 it could have an easy up move. Right now it faces hurdles at every level and crossing the 6150 would only confirm  the bulls mood.