Nifty undecided at 8300 : US data prints lower : Awaiting FED statement

Nifty remained subdued and closed lower below 8300 ..As i write this blog all eyes are on FED statements and interest rate decision . Tomorrow being an expiry day .. i will avoid any trade and will look to take a decision next week . I will be looking to sell puts around 7900 levels ...There is a probability that Nifty may bounce near 8400 for a more downward bias ... Earnings not so great for the financial year .. Long term Investors can buy small amounts of Nifty ETF and accumulate for every drop of 150 points on the Nifty for a decent return .Its a nice opportunity to do some value buying in Sun Pharma , Tata Steel and L&T ..... Nifty can also take cues from today's FED decision on interest rates and the possibility to increase rates in near future .
S&P looks bullish and may hit a new high before it makes a turn lower ...US GDP figures not upto the mark and looks like it may take some more time to emerge higher .Everyone will guage the FED statement for forward guidance today which in turn may effect markets . #EurUsd jumped higher above 1.1 and may look towards 1.13 levels ..Commodities still looking weak but can be considered a value buy for the next 2 years .

Strategy
Sell Nifty Call ..in the money ..will expire tomorrow
Still holding #UsdJpy
Looking to sell puts at strike 7900 for May series

Happy Trading

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