US stocks fluctuate : Nifty reaches resistance level : 19th Nov 2013
US markets consolidated after closing positive since last 4-5 sessions . We need to look a close below
1780 for a short trade strategy . Traders are now looking for Fed minutes tomorrow to decide on the
decision to continue its $85 billion purchases [Stimulus ], analysts think that they may start reducing
gradually from this month onwards . Another news suggested OECD has cut growth forecasts for
emerging economies including India and Brazil .Earnings were better than expected and I hope economic data improving in US .
Nifty paused today after hitting 6200 mark and there is a possibility that it will wait for global cues
before it takes the next direction. Earnings were not so great this time as per my analysis and I think
companies overall are being pressured on margins . Other factors like elections , monetary policy will
decide on the market course , I feel with Nifty can reach all time high as money still continues to pour in globally , economic indicators are not talking about growth currently hence markets will continue to march ahead in short term .
Strategy
No change in Bank Nifty Sell Calls for December Series.
Closing my other half of Buy $UsdJpy position @ 100.13
No change in buy $EurUsd position.
Happy Trading
1780 for a short trade strategy . Traders are now looking for Fed minutes tomorrow to decide on the
decision to continue its $85 billion purchases [Stimulus ], analysts think that they may start reducing
gradually from this month onwards . Another news suggested OECD has cut growth forecasts for
emerging economies including India and Brazil .Earnings were better than expected and I hope economic data improving in US .
Nifty paused today after hitting 6200 mark and there is a possibility that it will wait for global cues
before it takes the next direction. Earnings were not so great this time as per my analysis and I think
companies overall are being pressured on margins . Other factors like elections , monetary policy will
decide on the market course , I feel with Nifty can reach all time high as money still continues to pour in globally , economic indicators are not talking about growth currently hence markets will continue to march ahead in short term .
Strategy
No change in Bank Nifty Sell Calls for December Series.
Closing my other half of Buy $UsdJpy position @ 100.13
No change in buy $EurUsd position.
Happy Trading
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