Nifty nears 8400 : S&P consolidates : Asian stocks rise

Markets were green all over the world with Nifty and Asian stocks ending higher . It was a new high for the Nifty and it may race towards 8500 . I will continue to hold my sell Put position until expiry . Analysts remain upbeat on India for 2015 and expect Nifty to reach the magical figure of 10k . Oil prices remain low for the quarter , hence cooling up inflation and an opportunity to Mr RBI to reduce interest rates for the first time . Traders will now watch for September IIP numbers and CPI data . Looking to consolidate around 8500 levels .
S&P was trading near 2038 [when i write this post] and will remain in positive till the day . I am also bullish on US equities and the dollar for 2015 with the index may reach 2100 levels in the new year . Good earnings season from the US with good employment figures for the last 6 months makes a positive scenario for investment in the US . No specific news in the next few days as the calendar is light for this week . I continue to hold short USD against JPY as i still think its still overbought in the short term .
Strategy 
No change - Nifty Put 8000 @25 - November
No change - Short $UsdJpy 114.6 for target of 113.2

Happy Trading ...more to come

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