Asian markets Flat : S&P pauses before jobs data: 21st Oct 2013

Nifty Flat suggesting a pause which indicates a correction may start tomorrow . Better earnings report from L&T , Asian Paints , HDFC , Zee ,Federal Bank drove prices higher today . IT stocks have posted better margins sue to weak rupee . Banking Stocks also in an uptrend with good earnings from Top Banking stocks . Overall as of now better earnings this season lets see what happens in the next few days .

Coming into US / Europe , stocks fluctuate on US NFP release  . Analysts expect employers added more workers in September amid shutdown in US last week. Lot of news coming tomorrow with AUD Inflation Data , BOE minutes followed by US Jobless data . Not so good earnings reported by McDonalds, Halliburton and AT&T .  Apple climbed on reports upgrading IPad with better features . Overall mixed earnings report as of now which indicates there is still long way for US to recover .

As of now US and EM equities traded higher this week and as explained before I feel there is a major disconnect between the markets and economic growth . This is not going to last long and there will be a major pullback in equities on a Global Level . I am already seeing positive signs on US economy as every NFP release, earnings report , home sales is quite positive than the earlier months even though the growth is small .

Strategy
No change in my Sell Nifty Call.
No change in Short #EurGbp positions.