Nifty , Asia drops : S&P falls fastest , Dollar strong , Yen and Franc big gainers

Finally as what I had expected happened , emerging stocks fell followed by S&P and Europe. I was expecting this fall for quite some time but bulls refused to move away . Nifty closed below 6300 and I see that it may fall till 6000 mark . I expect Nifty in the same range or max 5800 till May 2014 after which a bull trend will resume . My Infy and Sun Pharma sell calls still in the money . I may now go for another Sell shot on the Nifty on opening Monday morning . I think it will be a gap down opening for the Nifty hence will wait before I execute my trade . Private bank coming up with good earnings , same as with Pharma sector as well , UCO Bank , Glenmark , Karnataka Bank and Novartis posted good results as per expectations .
S&P had a biggest drop than last 6 months as it closed to 1781 . My short trade in S&P[from 1807] is in the money and will look to close on Monday opening . It will be interesting next week as FED meets on Jan 28-29 to reduce stimulus in a phased manner . Yen rallied along with Franc , I see a opportunity to buy $UsdJpy after some more selling . My currency positions are not doing well and hence will wait for some more time to take any decision .
Strategy
No change Sell Call Sun Pharma 640 @4
No change Sell Call Infosys 3800 @17
No change in long $UsdChf .
No change in half short $GbpUsd position.
Looking to close short S&P position
No change in short $NzdUsd.
Statistics
Will be updated in my next post .

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