USD/INR: Irrespective of what the RBI has done, their move is for sure to backfire although not immediately. USD should find a bottom in the range of 58.45-58.80( +/- 20-30 paisa). USD's bull run is far from over.
Equity markets: With the developed markets nearing a medium term top, the scenario around the globe is not looking too cheerful. Nifty failing to take out its life time high after multiple attempts is in itself an extremely negative case to have a closer look at. Although one might call me a persistent bear, I have no reason in front of me to make me feel bullish. I will be the first one to turn into a bull when Mr. Market warrants me to turn into one, which is quite far away at the moment. Bull markets are always a good investor's market, wherein broader market participates in the rally. We are quite far away from it.
Will post more on my Nifty update which will come up this weekend!