Flash Update : Going Short Nifty Future Jan series @6211
I have taken a short trade on Nifty @6211 for a stop loss of 6300 on daily close
US Retail Sales rebound : India Inflation down and manufacturing improves
Nifty closed marginally up above 6500 , there was profit booking around 6500 levels which resulted in drop of nifty last week . Inflation dropped for consecutive second month while manufacturing was in positive after a long gap shows overall macro economic factors improving in 2014 . This has to continue for another quarter to have a bullish stance on India . General elections also coming up next month I will rather wait till June 2014 to be on the buy side . I closed by sell put on Nifty last week in profit . There is no change in my sell Calls of HDFC Bank to cover my loss occurred last month . US retail sales figures improved and jobless claims were down than last month . S&P dropped to 1840 and will sell on Monday opening for a target of 1800 . China output was at 5 year low which led a sharp drop in commodities . Lot of pessimistic data coming up from China has sent fears across the globe hinting a slowdown in their economy . Dollar has gained a bit as is now at...
Comments
Post a Comment