Nifty Flat : S&P at all time high : 23rd Dec 2013

Nifty rallied towards 6300 mark , faced tough resistance near that level and closed some points ahead of yesterdays close . As explained earlier in case it manages to cross over 6300 anytime this week we can see the Nifty at 6450 mark . I don't see much upside as volumes remain light with not much active participation . Till then it will continue to remain range bound between 6300 and 5900 levels till end of this year . I would not like to trade anything this week but will continue to watch the Nifty above 6300 . I am still holding to my Sell Call Nifty and Bank Nifty Strategy which is in the money and will look to close when market re opens for trading in the New Year . My friends would like to hear from me the outlook for 2014 which I will post from Dec 28th onwards . I will be covering topics like Indian markets , US equities , Asian Markets , Euro Zone and Aussie/Kiwi markets . My view on currencies , Commodities and Bullion as well .
S&P rose to 1827 from the news that IMF is positive in US economy . Data from consumer confidence also showed an increase from last month which meant sales improving which is bullish for the economy . I continue to hold short S&P future as I think traders have not taken the taper seriously , Markets have been ignited by the easy money which was pumped into the system through continuous rounds of stimulus since 2009 . Beginning from this year with economy showing signs of improvement and no stimulus around markets need to correct at some level before the next upside starts sometime later half of 2014 . Gold as mentioned in my previous post will not shine in 2014 and is already at $2000 levels , I have advised my friends to start accumulating around $1800 which is a major support level and can come close to that level next year . I am not taking any position on currencies and will wait until 1st week of Jan .
Statistics
No change in Sell Nifty Jan Series.
No change in Sell Bank Nifty jan series
No change in long $UsdChf .
No change in half short $GbpUsd position.
No change in half short S&P.
No change in short $NzdUsd .
Statistics
Very very lazy to update .. will do it tomorrow
Happy Trading

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