Nifty Flat : S&P unchanged : Eurozone gives hope : Markets Anxious for NFP Release tommorrow
Nifty closed in a narrow range just below 6200 . I have executed a short position on Nifty yesterday for Jan series with a stop loss of 6300 and potential target of 6100 . Coming up next on Friday is IIP numbers for Nov . Analysts expect a increase in industrial activity with exports showing some healthy sign but still slow in manufacturing activity . Q3 earnings starts from Friday Jan 10 with Infosys delivering its results . I will post my strategy on Infosys in case I find suitable on todays close. No change in positions for my Sell Nifty and Bank Nifty Calls .
S&P was flat and traders are now waiting for the employment report due tomorrow . Fed minutes failed to show any direction and concluded that stimulus program is now showing less effects on the economy .Analysts expect a small increase in payrolls than last month and hoping unemployment falls towards 7.1 % . I am still holding half positions short S&P for a target of 1780 . Eurozone showed some signs of improvement with no change in unemployment and an increase in retail sales figures. Germany trade surplus also widened to near record hence indicates that Europe is now trying to come up from recession .Asian stocks fell today morning on concerns that factory prices had biggest declines since last quarter .
Strategy
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.
Short Nifty Future Jan Series @6211
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