Markets wait for Fed Outcome: S&P drops : 30 Oct 2013


Everyone is now waiting for FED action which will determine the direction of US dollar and equities next month . Asian markets were flat , Sensex was at all time high at close . S&P was trading in Red at the start of the session . Mixed earnings today with LinkedIn, Western Union reported drop in revenue , GM met estimates . Inflation was reported high in US due to increase in fuel prices . Another reports suggested weak job growth will remain for an extended period .

Sensex closed at record high at 21033  . Bank Nifty fell due to poor results from OBC , IDBI and Bank of India . We have taken a sell call on 11300  for Bank Nifty expiring tomorrow . We are very near the 11300 mark but I would like to see how things work out tomorrow . If it closes below 11300 then we are in profit else we need to book our loss and come out . I am expecting a weak opening tomorrow being an expiry day and all depends on the FED outcome tonight . Bharti Airtel , Havell India , Titan , Lupin and Godrej were up on good results .

Strategy
No change in Nifty Sell Call for November Series.
No Change in Bank Nifty Sell Call October Series.
No change in short #NzdUsd[partially open].
No change in long #UsdChf

Happy Trading



 

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