Nifty undecided : S&P volatile: Dollar weak

Nifty closed in positive , slightly above 6300 . I have come out of my sell nifty future as markets are  undecided on the next move . I am still -negative on Nifty , since our trade was not going anywhere I finally decided to call it off . Tata Coffee, Unilever and Colgate posted good results while there was drop in earnings from Ashok Leyland , Kotak Bank and Thermax . I have observed that Banks are not reporting good results and I see a rise in NPA overall . NSE has now launched interest derivatives which is a new product and can be used as a hedging tool . Investors who think that rates will fall going forward can now sell futures and make money , it can also be used as an hedge for your home loan . I will be explaining it in my next post . I am in the money with Infosys and Sun Pharma Sell calls .
S&P was flat yesterday but mostly on the lower side . Markets are eagerly waiting for BOJ monetary policy which will decide the fate of the Yen . German investor confidence was low than last month while Eurozone showed improvement in Housing sales . I clearly see that Europe will be next to revive in the next 6 months by the time US will be improving better than all economies . Earnings on Wall street not much spectacular with average as only 67% of the companies meeting expectations. Coming to currencies Dollar was weal overall but will improve as it is in the correction stage . I am happy to see my dollar portfolio [sell pound , NZ dollar ] slowly coming up to cost .
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.
No change in half short S&P.
No change in short $NzdUsd.

Happy Trading ,

 

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