Nifty unchanged : S&P Weak : All Eyes on Fed , RBI Policy : 17 Dec 2013

Nifty was range bound through  the day . Analysts expect RBI may hike rates tomorrow as Inflation reached all time high . This will make borrowing expensive to cool down demand and soften prices . I am still holding Nifty Sell Calls , I was observing the Bank Nifty to write some puts but called off my decision on the last moment . I will wait until Wednesday evening to take some trades . Nifty has a support of 6000 and 11200 for Bank Nifty.

S&P was weak on opening . Data showed Inflation was unchanged in US at 2 percent which is what Fed wants Overall increase in payrolls , manufacturing and housing sector all adding to the probability that economy is increasing and Fed should consider to reduce stimulus in a smaller proportion . Lot of money at stake tomorrow so lets see the action . I am happy to see my short S&P in the money and will continue to hold for a target of 1700 .

Strategy
No change in Sell Nifty Jan Series
No change in long $UsdChf .
No change in half short $GbpUsd position.
No change in half short S&P [I missed to update in my previous post]
Statistics
Will be updating it tomorrow.

Happy trading 

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