Nifty rebounds , Asia Flat : S&P back on track

Nifty closed near 7600 and strong today morning on strong global cues . I have taken a sell on Nifty call at higher levels [please see my flash update column]. Earnings report in India look quite comfortable with major companies showing some growth . I am positive over India growth and have taken some long positions on specified stocks .Traders will be looking IIP data with expectations of an upside , and inflation data to remain high due to high prices .Market does not seems to be happy over the budget and no policy decisions taken by the new government .
Asian stocks were flat and overall equities were in green on expectations that political unrest is easing . S&P climbed towards 1950 mark ..will it rally again .. I don't think so unless it corrects at some healthy level to cross its high again . NZ dollar was weak due to bad housing report ..overall dollar was strong except for Yen as traders bet on strong US economy .
No change in my long dollar positions .

Strategy 
Sell Nifty Call 7800 @33 Aug Series
No change in long $UsdChf .
No change is short $GbpUsd.
No change in short $NzdUsd .
No change in short $EurUsd.

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