American Shadows.

All of a sudden, we seem to get strongly attached to U.S. influences.
First, the S&P500 fell almost 2.5% on Friday, about 26 points (Dow fell 260+ points). This will have some influence on india, on Monday.

Second, There is a news item in the Times of india, confirmed by the CME website – http://www.cmegroup.com/ (check out the Equity Index menu option), that Nifty futures will begin trading on the Chicago Mercantile Exchange (CME) from Monday, July 19, 2010 (that’s tomorrow). This will give an unfair advatnage to traders who can trade on all three exchanges (NSE, SGX – Singapore, Chicago), since they can take or reduce positions almost 22 hours every day. Indian traders will be at a disadvantage since we cannot, open derivative trading accounts aborad (As per RBI rules). So, we have to trade only in India, while a foreign trader can keep on adjusting positions, if needed, in india, then in Chicago, then Singapore.

Chances are, the NSE will begin trading in Nifty futures till 11:55 PM. If this does not happen, then Indian traders will have to almost give up trading in derivatives.

Interesting times ahead!