Nifty weak : Asia and US stock rebound : Traders wait for FED outcome

Nifty closed around the same levels after a gap down yesterday at 6126 . I have not taken any trades but will wait for a day or two after todays Fed policy . I am still bearish on the Nifty till 6000 levels . Markets were surprised on  RBI rate hike but did not see any quick reaction after the news . RBI intention is very clear on this announcement as he is taking all efforts to bring down inflation . Stocks that were in limelight were Ipca Labs , Jyothy, Vimta and Maruti with inline results .Asian stocks rose after few consecutive drops on profit booking .
US consumer confidence was highest in Jan than last month , everyone is now eying on Fed decision on its monthly program to reduce stimulus . It depends on how and fast it take decisions based on economic data coming out of US .I will be looking to short S&P again on rallies at 1837 . My position on currencies not that strong but I am quite optimistic on he dollar in short term . Will keep you posted on any good trade setups which arise during the day .
Strategy
No change in long $UsdChf .
No change in short $NzdUsd.

Happy Trading ...

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