S&P closes above 1800: Nifty looks like bearish : 24th Nov 2013
Equities continue to be bullish as we come towards end 2013. There was 25%-30% rise in all equities
across the world since start of 2013 . What will happen now and going forward 2014 . As we enter
December I forecast traders will now be booking profits in equities as profits are not real unless it is
realized . Emerging markets are already showing some signs of weakness and will correct in short term . Gold continued to fall this week as many thought that Fed will start tapering shortly and may not be good year for Gold in 2014 .
Nifty was near the support level of 6000 and signaling weak close till expiry . There is a possibility that it may close below 6000 by end of this week . I am likely to sell a call for 6000 tomorrow early morning on Open . Nifty will take cues from Q2 GDP data and rollovers on F&O for December to decide direction , also on Fed statements that tapering will be discussed in next round of Fed meeting in December . I expect the Nifty to drift towards 5700 by December and to remain range bound or weak during first half of 2014 .
Strategy
No change in Bank Nifty Sell Calls for December Series.
No change in my Sell @EurUsd position.
Statistics will be updated in my next post .
I have now opened a live account on XM [www.xm.com]. I will now be able to trade my FX strategies on this account which I mention and will be displayed Live on my post . This will give us a clear clarity on how we are performing . Those who wish to open an account you can click on the banner on the post and then directly subscribe to my signal or follow my account .
Lets GROW together .
Happy Trading
across the world since start of 2013 . What will happen now and going forward 2014 . As we enter
December I forecast traders will now be booking profits in equities as profits are not real unless it is
realized . Emerging markets are already showing some signs of weakness and will correct in short term . Gold continued to fall this week as many thought that Fed will start tapering shortly and may not be good year for Gold in 2014 .
Nifty was near the support level of 6000 and signaling weak close till expiry . There is a possibility that it may close below 6000 by end of this week . I am likely to sell a call for 6000 tomorrow early morning on Open . Nifty will take cues from Q2 GDP data and rollovers on F&O for December to decide direction , also on Fed statements that tapering will be discussed in next round of Fed meeting in December . I expect the Nifty to drift towards 5700 by December and to remain range bound or weak during first half of 2014 .
Strategy
No change in Bank Nifty Sell Calls for December Series.
No change in my Sell @EurUsd position.
Statistics will be updated in my next post .
I have now opened a live account on XM [www.xm.com]. I will now be able to trade my FX strategies on this account which I mention and will be displayed Live on my post . This will give us a clear clarity on how we are performing . Those who wish to open an account you can click on the banner on the post and then directly subscribe to my signal or follow my account .
Lets GROW together .
Happy Trading
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