We Forecast .Markets Decide ..

Nifty raced to a new high and closed near 8200 mark . we might see some resistance here and see some profit booking at these levels . No change in my Nifty positions as I am in profit and  will wait till expiry . Most of the gainers were among mid cap space and this bullish momentum will be till 2015 . I am still not happy on the overall growth about the economy as growth is still picking up and the bullishness in the market is due to FII are in buying spree .  Nifty may move as per global cues and will be looking in Oct  for earnings report . Asian stocks weak on opening as dollar surged against yen yesterday , investors are more concerned because of political issues worldwide . News to watch is the Scottish referendum for independence and Ukraine crisis . EU has already got a hit on their economy due to sanctions imposed over Ukarine and Russia. Coming to currencies dollar has gained across the board with Euro and Pound being hit the most . NFP numbers were not so great last month

I am going short on $UsdJpy @105.06 .. for a target of 104.6 I have also closed my $EurAud long positions at 1.4177 at profit

Writing again after a long time , hope to be consistent going forward . Nifty has almost reached the 8000 mark with no signs of tiring  , expecting 8150 max on the upside . As mentioned earlier the best strategy would be to sell puts around 7700 - 7900 strike prices for the sew Sep series . My sell Nifty position for last month ended in a loss even though I had hedged it using a long Nifty Future . . I have taken a sell put at 7900 @50 . I am still hesitant to be long and I think it the market should correct around 7500 mark for a new leap forward . Macro Indicators slowly turning up but to early to comment as it has to be consistent for the next 2 quarters . Aug Auto sales numbers were up as expected as manufacturing picks up , deficit was lower than last year but exports have slowed in July . Asian stocks were flat on opening as Samsung and Hyandai reported lower sales for August . S&P hits 2000 mark and traders are in a dilemma to take it more higher . Dollar has rose acros