Nifty Flat : Asia Down on trade surplus : SPX down from 1900

Nifty was flat at 6700 , with one major news of Sun Pharma buying our Ranbaxy in all stock deal , hence becomes 5th largest drug maker globally . Elections kicked off this yesterday till next 6 weeks and will wait patiently for the outcome . Indian economy not really picking up with only one positive factor of inflation under control . I expect to see India going strong only after monsoons and when the new government announces reforms . Those who would like to invest in the long run can buy at current levels . I will prefer to sell Calls at higher strike price and puts at lower levels for the Nifty . Looking to sell Calls in Tata Steel at 440 strike price .
Asia stocks down on opening with BOL reporting more trade surplus after a long time , Traders eagerly waiting for the monetary policy later today for any news to increase easing . I am long Yen in the short term and long in the medium to long term . I have taken another sell on the pound today @1.6615 with a target of 100 pips . SPX down since last 3 days and looking at 1800 levels shortly . Earnings in US will start from next week onwards and reports predict that this season also will be mixed for US companies .
Strategy

No change in long $UsdChf .
No change in short $NzdUsd .
No change in short $EurUsd,
No change in short SPX.
No change in Nifty Sell Call .
Sell $GbpUsd @1.6615
Statistics

Will update .....in my next post ....

Happy Trading ...
 

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