US Job growth up : Global stocks end higher : Nifty : Is it a pre budget rally ?

Nifty was at record high and closed around 7751 and I think it has already priced in the gains of the budget , I have already taken a protective stance on my positions by taking a 2 lots of Nifty futures 2 days back . Will be looking to square of my positions after the budget . Earning season start next week with Infosys announcing its Q1 results on July 11 . We also have the budget on July 10 and hence expecting lot of volatility next week .
US employment figures jumped in June and the jobless rate is below 6.5 threshold of the Fed for the third time in a row . This indicates that economy is picking up as an whole , fiscal deficit also narrowed down due to jump in exports last month . Global equities jumped on the results and most of the stocks trade near all time high last week . Looks like equities are bit stretched and will be looking to sell towards end of this month . Dollar was strong across the board among major currencies except for Canadian Dollar and I am already long dollar since start of this year . Eurozone firms expanded at the slowest rate in June and indicates slow business growth in the economy . Industrial activity fell in France and Germany and business conditions remain tricky in the region .
Another report showed that top global economies contracted in in 2014 as companies ordered fewer goods globally , international trade trimmed due to increase in prices and bad weather was one of the major factors .
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 strike 7700 July series
No change in Buy Nifty Futures for July Series .
Statistics

Will update .....consolidating results ...



 

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