Global stocks rally : Nifty , Asian stocks and S&P at all time high

Nifty rallied to a new high moving above 7000 mark , courtesy exit polls showing that BJP will emerge as single largest party in elections 2014 . At this point I should stop talking of markets reaching new highs as going forward for the next 1 year markets will be bullish . Inflation rose and IIP numbers fell showing contracting in manufacturing , these were overlooked by the traders and there was a bullish scene on Dalal Street . We still wait till May 16 for actual results to come . My sell call for Nifty still in the money and I think will close in positive for May . Looking to sell Nifty Call around 7500 levels as Modi win is already factored in this bull run and looking for a consolidation for next few days .Asian indices also reached a new high taking cues globally and good earnings from corporates in the US and from Japan . At this point S&P looks overstretched and face resistance around 1900 levels . US retail sales rose showing signs of expansion in the economy . US is really picking up slowly but gradually and I expect 2014 to be healthy for US economy . Dollar was string this week with Euro and Pound sliding to new monthly lows . Watching the Euro as it may near 1.3800 levels and then resume its downward trend .
Statistics
No change in long $UsdChf .
No change is short $GbpUsd.
No change in short $NzdUsd .
No change in short $EurUsd.
No change in Sell Nifty call 7300
Statistics

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

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