Nifty weak : S&P stalls : WB raises economic outlook

Nifty ended weak below 6300 as expected . I am still holding short Nifty and will continue to hold unless it shows a strong upside move which is unlikely . I am bearish in short term till June 2014 and will buy unless general elections play out , till then it will trade within a range . Inline results from bigwigs like TCS, Reliance , Wipro , Axis Bank , Bajaj Auto and HDFC Bank . Inflation cooled from last month and RBI will be happy as they may not have to hike rates this policy meeting . I am expecting Nifty and Bank Nifty to be weak as I now see a strong co relation between S&P and emerging market indices . Looking to sell Infosys as it is facing some resistance around 3700 levels . Please check my blog for flash updates .
Manufacturing was strongest since last 3 years according to FED report . S&P fell from record high on slow earnings from finance sector . Senate voted in favor to finance the US government spending until Sep 14 thus reducing chances of fiscal slowdown .World bank increased its growth forecast outlook to 3.2% with India will grow fastest from 2015 onwards .UK retail sales also saw a increase than last month . Another report also indicated that Asia economy has started reviving . We have already seen US coming out of recession , which is now followed by Euro , next comes in Asia and then Australia and NZ , and last will be emerging economies like India and Brazil . On the currencies dollar was strong this week with Euro and Aussie were near last month low . My long $UsdChf is now in the money and will look to sell next week . I will hold short Pound and NZ dollar for some more time as I see additional weakness still remaining .
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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