Nifty rebounds : US stocks back after all time high

Nifty was bullish yesterday and closed almost flat . I am still holding my long Nifty future even though I am in negative . In case there is a positive close tomorrow I will close my long position or will try to cover up by selling Puts near 6100 levels . I will decide and keep you posted during market hours . My sell Call Sun Pharma is in profit and will wait till expiry . Good numbers from TCS , HCL Tech , Axis Bank and DB Corp . IT sector will be in focus in 2014 with US / Euro zone reviving they surely will get a benefit from it . Bank stocks will be encouraging but I also see their NPA rising from last 2-3 quarters hence need to review again in next quarter . See lot of action on earnings report next few days . My view still remains bearish/ sideways till June 2014 .
US stocks were back to normal after reaching all time high yesterday , I don't think there will be buyers at that level to take it any further . Finance group shares were down after not so encouraging numbers from Citigroup and Goldman Sachs . US earnings will be brighter this time as US economy is now showing signs of improvement in this quarter as well . Economy very encouraging as jobless claims decreased , housing sales reviving  and manufacturing picking up. Coming up tomorrow housing statistics and Eurozone construction output data . Aussie took a beating today with bad employment numbers , dollar is under pressure even after better inflation numbers .
Statistics
No change Sell Call Sun Pharma 640 @4
No change in long $UsdChf .
No change in half short $GbpUsd position.
No change in half short S&P.
No change in short $NzdUsd.
No change in short  Nifty Future Jan Series

Happy trading .

 

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