US stocks near record high: RBI hikes rates : 30 Oct 2013


I was surprised to see Nifty in green in spite rate hike by RBI . Most of the stocks rose taking cues globally , as US stocks rose near record high and showed no signs of retreating . Nifty rose above 6200 where macro data not so encouraging and slow growth in the economy as an whole . Disappointment from NTPC, Ranbaxy , Shriram Transport , Bharti and IOB on earnings , this week we have not started well on the earnings front with most companies showing below expected results . We have now seen that the Nifty is trading in a range from 6000- 6300 , any break above or below this levels will be the next direction of the Nifty. Our Bank Nifty Sell call is near our strike price of 11300 and will decide on it during market closing .

S&P had the best gains of the year and Asian markets were trading higher in morning session . US will also release inflation figures today evening and many analysts expecting FED will start to cut down on Bond purchases only after March 2014 .Apple earnings dropped in Q4 despite rising IPhone sales , there were better results posted by McDonalds  and  Berkshire Hills . US dollar was strong among most of the currencies even though equities were high ,I could not see a correlation and I feel equities will fall and USD to become stronger in short term .

Strategy
No change in Nifty Sell Call for November Series
No Change in Bank Nifty Sell Call October Series
No change in #NzdUSD[partially open].
Going Long #USDCHF [as published in Flash Update]



 

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