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Nifty , Asia drops : S&P falls fastest , Dollar strong , Yen and Franc big gainers

Finally as what I had expected happened , emerging stocks fell followed by S&P and Europe. I was expecting this fall for quite some time but bulls refused to move away . Nifty closed below 6300 and I see that it may fall till 6000 mark . I expect Nifty in the same range or max 5800 till May 2014 after which a bull trend will resume . My Infy and Sun Pharma sell calls still in the money . I may now go for another Sell shot on the Nifty on opening Monday morning . I think it will be a gap down opening for the Nifty hence will wait before I execute my trade . Private bank coming up with good earnings , same as with Pharma sector as well , UCO Bank , Glenmark , Karnataka Bank and Novartis posted good results as per expectations . S&P had a biggest drop than last 6 months as it closed to 1781 . My short trade in S&P[from 1807] is in the money and will look to close on Monday opening . It will be interesting next week as FED meets on Jan 28-29 to reduce stimulus in a phased man

Nifty undecided : S&P volatile: Dollar weak

Nifty closed in positive , slightly above 6300 . I have come out of my sell nifty future as markets are  undecided on the next move . I am still -negative on Nifty , since our trade was not going anywhere I finally decided to call it off . Tata Coffee, Unilever and Colgate posted good results while there was drop in earnings from Ashok Leyland , Kotak Bank and Thermax . I have observed that Banks are not reporting good results and I see a rise in NPA overall . NSE has now launched interest derivatives which is a new product and can be used as a hedging tool . Investors who think that rates will fall going forward can now sell futures and make money , it can also be used as an hedge for your home loan . I will be explaining it in my next post . I am in the money with Infosys and Sun Pharma Sell calls . S&P was flat yesterday but mostly on the lower side . Markets are eagerly waiting for BOJ monetary policy which will decide the fate of the Yen . German investor confidence was low

Flash Update : Closing Sell Nifty Future @6330 . Selling Nifty Put 6200 Jan series

I am closing my sell Nifty Future in loss and taking a new position on sell Put 6200 Jan series @17

Nifty still in a range : S&P Flat : China economy contracts

Nifty still inside the range , 6000 - 6300 levels , I now see a some bullishness and hence will close my Sell future Nifty position tomorrow morning . I have taken a sell call on Infosys as I see some pressure around 3800 levels . Asian Paints and Ultratech Cements fell with results below estimates while Emami , TTK and PTC were the performers today on earnings. Nothing much impressive about Indian markets for the last week  hence trading is difficult and one may sell calls and puts with a range from 6000-6500 levels for the current month . China growth slowed from last quarter as investment , industrial activity and exports weakened the most from last quarter . Asian stocks were up this morning as traders wait for BOJ interest rate decision by tomorrow . NZ inflation increased and they may look to rise rates again . My long $UsdChf is in the money and I see some more upside in the next few days  . S&P was flat yesterday on thin trade due to US holiday , I expect to rise today as

Flash Update : Sell Infosys Call 3800

I am opening a new position  Sell Call on Infosys 3800 @17.5

Nifty weak : S&P stalls : WB raises economic outlook

Nifty ended weak below 6300 as expected . I am still holding short Nifty and will continue to hold unless it shows a strong upside move which is unlikely . I am bearish in short term till June 2014 and will buy unless general elections play out , till then it will trade within a range . Inline results from bigwigs like TCS, Reliance , Wipro , Axis Bank , Bajaj Auto and HDFC Bank . Inflation cooled from last month and RBI will be happy as they may not have to hike rates this policy meeting . I am expecting Nifty and Bank Nifty to be weak as I now see a strong co relation between S&P and emerging market indices . Looking to sell Infosys as it is facing some resistance around 3700 levels . Please check my blog for flash updates . Manufacturing was strongest since last 3 years according to FED report . S&P fell from record high on slow earnings from finance sector . Senate voted in favor to finance the US government spending until Sep 14 thus reducing chances of fiscal slowdown

Nifty rebounds : US stocks back after all time high

Nifty was bullish yesterday and closed almost flat . I am still holding my long Nifty future even though I am in negative . In case there is a positive close tomorrow I will close my long position or will try to cover up by selling Puts near 6100 levels . I will decide and keep you posted during market hours . My sell Call Sun Pharma is in profit and will wait till expiry . Good numbers from TCS , HCL Tech , Axis Bank and DB Corp . IT sector will be in focus in 2014 with US / Euro zone reviving they surely will get a benefit from it . Bank stocks will be encouraging but I also see their NPA rising from last 2-3 quarters hence need to review again in next quarter . See lot of action on earnings report next few days . My view still remains bearish/ sideways till June 2014 . US stocks were back to normal after reaching all time high yesterday , I don't think there will be buyers at that level to take it any further . Finance group shares were down after not so encouraging numbers