Nifty weak , IT stocks fall: US stocks fluctuate : 24th Oct 2013

Nifty ended down today siganalling that it is facing resistance around 6350 levels . There were more declines than advances today IT stocks fell with Wipro and HCL were down by over 4% . HLL reported slowere sales last quarter . Coming up on earnings is ICICI , ITC , Colgate , Wockhardt and TVS Motor . Good numbers by SKS Microfinance , Arvind and M&M which reflected in thier prices today .

Consumer Confidence dropped to 8 month low in US which shows consumers worry on the economy and they are not spending . Imports exceeded exports , personal finances declined , buying climate declined , views on the economy also declined to lowest than last month .  This is not an encouraging sign but US markets still trade at all time high . Ford Motors posted good results , Symantec dropped on it failed to meet estimates . Reports suggest 76% were upto expectations and 53% exceeded sales expectations .

Strategy

I am still holding Sell Nifty Call [Nov 6500 strike]
I am happy to see my short #NZDUSD in profit and will book half my profits [will publish during that time].
Happy Trading

Comments

Post a Comment

Popular posts from this blog

Crypto Currencies: Is it worth investing

Bitcoin , Etherum ....so on..are the buzzwords in today's economy  ..We here many rag to riches  stories on how they have become millionaires in short time ..Now do we join the bandwagon ..is it the correct value of these coins and what lies ahead . Some short info on what do they mean and how it started Its a digital asset to work as a medium of exchange to secure transactions and create additional unit of currency . Bitcoin was the first currency in 2009 ..after that many were created which are also called altcoins . Their legal status still remains a question as it varies from country to country and in some countries its used as a barter system also . Retail investors have jumped in to the bubble ..hoping that they will be rich soon ..but a word of caution ..even i am not sure on how will it be going forward .. Some points to think be fore you invest . 1. Its not regulated ..i meant there is no regulatory system ..like we have central bank in each country which decide on the cu
Read more

S&P bullish : Nifty slides : RBI Policy Ahead

S&P currently trading 2532 as i write this post , Its being bullish for long with no signs of tiring off , global stocks overall are on a ride for the past 2-3 months and still going strong . Nifty touched 10000 mark before sliding down , I am still bullish India but needs a pullback to go long . I will be scanning specific stocks as well so that i stay invested in the short term . Macroeconomic indicators are not favorable in the current scenario , we need to watch for RBI delivers tomorrow. With demonetization and GST the economy is still not stabilized at the moment and may take some time  to be on track  Watching Sun Pharma at the moment to enter into a buy position Not doing anything on the Index as of now : into sidelines Gold is a good buy at the moment and i am going long at 1271 , if you have noticed commodities overall are firming up and they will give you good returns over the period of time Nothing on the currency markets , i am scanning through and I may take some sho
Read more

Markets Quiet , Awaiting APPLE product event

Big Day for Apple , all waiting their product event today . Are you long APPLE stock ...we could see lot of volatility here . As a trader we dont trade the news but rely on charts over a longer time frame . Keep your trades small over months and weeks and see your profit grow ...rather than trades which are bigger over a shorter time frame . Markets quiet overall , nothing actually moving . i could see some bearishness against the dollar but still optimistic in 2016 -2017 . traders speculating a weak dollar going forward in case FED does not hike rates in December and see sluggishness in manufacturing , employment and home sales Commodities slightly picking up and could see a major moves in 2016 . I am already long Gold and will continue to add positions in case i see a pullback in weekly and daily time frames. Overall global economy slowly picking up in 2017 with US will be the first one to be chugging ahead among all countries . Product innovation is the key with importance agri bas
Read more