Nifty Weak : US Lawmakers reach Budget Agreement : 11 Dec 2013

Nifty corrected again , reached session low and settled around 6300 .  It may now move up or down taking Cues from CPI inflation Data , Fed Meet and RBI Policy . I am looking on the downside as I expect no change in CPI numbers and actually contraction in Manufacturing activity . There is a possibility for the Nifty to remain range bound this week and there is mot likely chance on the downside . There is a strong support at 6100 . I have refrained from taking any trades today and will look through again on tomorrows closing . Nifty may open low in the morning on weak global cues today .

US Stocks were weak and I see a resistance around 1800 [was trading at 1793 during this post]. I see a drop of at least 100 points in case its closes below 1780 at close . I was also hoping for the dollar to be stronger in line with equities as FED has a 50-50 chance to reduce stimulus from this month onwards . I am still holding my strong dollar positions as I see Us economy improving and all macro data like payrolls , inflation and GDP showing signs of improvement . Other 2 commodities Gold , Silver and Bullion will also be affected in case FED decides to withdraw stimulus . Many of my friends were asking me on the outlook for Gold which I have not yet discussed in any of my post . Gold is currently trading at  $1257 which may drop to $1200 in medium term . It is a best buy at those levels and hence I recommend my friends to accumulate around 1190-1200  .

Strategy
No Change in Sell Nifty Call December Series
No change in Bank Nifty Sell Calls for January Series.
No change in long $UsdChf position .
No change in short on S&P equity [half]position.
No change in Short Sell $GbpUsd

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