There is a near term trigger in sight for the markets and that near term move might come on September 18. But whether global markets will continue to rally on like they have, more than just a relief rally and actually a continuation of a very firm uptrend, which takes most markets swelling to new highs, will only come after the Fed news pegs it back into that corrective groove.
Technical Analyst, Ashwani Gujral believes that if the Nifty touched 4,500 yesterday, the only thing needed would be to sustain it for the market to breakout to new highs. He said, "If we can sustain a couple of days above 4,500, we should get upto 4,640-4,650 and then probably again get into a bit of a range, while the market waits for a desired result on September 18. If the result is favourable, you would probably see an immediate breakout to new highs."
Portfolio Manager PN Vijay believes the next thirty days will be important as the Fed meet is lined up, which will dictate market sentiment, "It might happen in next thirty days, because for the first time in the last ten days a lot of enquiries about coming into the market is coming from HNIs. I think this could be still related to property prices falling and art is getting a lot of money, people are buying art but it is possible that the domestic savings of HNIs would probably get into stock markets a lot more leading to more action in midcaps definitely but even in Index stocks. So this could provide good liquidity in the next one-two months."
There is a near term trigger in sight for the markets and that near term move might come on September 18. But whether global markets will continue to rally on like they have, more than just a relief rally and actually a continuation of a very firm uptrend, which takes most markets swelling to new highs, will only come after the 
