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Below is the A bullish market will witness  short coverings causing sudden sharp upturns By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

A bullish market will witness  short coverings causing sudden sharp upturns. There  are reasons to believe that this happened yesterday when shorts created in anticipation of negative fallout from the Evergrande crisis were forced to cover. The sharp surge in Nifty by 235 points from lows yesterday is indicative of this. Even though the jury is still out on the final outcome  of the woes of the Chinese realty major, the possibility is that the issue will be confined to China with no contagion on global markets. Today the market is likely to focus on the Fed message which is likely to give a timeline for taper. It is unlikely to be a market moving message since markets have already discounted taper"

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