Nifty drops : Inflation trends lower : ECB keeps rates unchanged

Nifty dropped near to 8700 levels which is a good support level ...need to watch as to where nifty moves next week ...looking confused hence i am on the sidelines . Inflation dropped lower which indicates that RBI may cut rates again ..we need to be cautious as much depends on the monsoon .Over all still bullish India but looks like it will not be an easy path . Earnings not as bright this season and have a little impact on the Nifty
ECN kept rates unchanged and are in full steam on QE ..They have another challenge which is Greece as they may approve for more funding .. S&P could rise to new levels as mentioned earlier .Dollar has taken a beating and it may extend until end of this month . I am still holding my buy euro position with strict SL . I look for the next bull run in commodities which may extend in 2017 .. Its a good value buy in Gold and Oil at the moment ...it may not look promising this year but will reward you well over a period of time .
I recommend to start buying small units of Nifty ETF and GOLD ETF on a regular basis which will give you good returns

Strategy
No change in buy #EurUsd
No position in Nifty

Watch my active account Live
http://www.myfxbook.com/members/abhijeetrisbood/fxfresh/1200128

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