Asian Markets Drop : US Weak on Profit Taking : 23rd Oct 2013

It was a big surprise today as stocks dropped after opening , on the weak payrolls data last night . I was expecting gap up opening is Asian Session but markets opened flat and were in red while closing . Disappointing numbers from ACC, Jet Airways but earnings were in line for Idea , L&T Finance , Hero MotoCorp,SKS Microfinance and First Source Solutions .Going ahead we can see poor results from Tier II Companies . Hence markets always decide wherever they want to go and we should try to follow them .

US Home prices rose marginally last month . Home affordability is lowest in Sep with trends showing real estate not picking up in US. On the currencies front JPY rallied against most of the currencies on yesterdays weak NFP and Chinese credit crunch  position . As published in the morning I have taken a short #NzdUsd position as indicators show NZD has been overbought in recent sessions .

I am grateful to all of you who are following my posts , I will be regularly posting my strategies and my views on global markets . We all will learn through trades which I post and try to be a successful investors with minimum risk .

Strategy.
No change in my Sell Nifty Call.
I am short on #NZDUSD [as published today]

Will update Statistics in my next post .

Happy Trading

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