Post Market Report, September 27, 2013 | Stocks and Commodities

P R Sundar, Aditya Trading Solutions

September 27, 2013
Time: 3.45 pm

Post Market Report:

1. In the morning we reported a slight bullish view.
2. But we did not think the Bank Nifty will fall so much.
3. That is because of RBI Governor's speech about the risk of low interest rates.
4. But he spoke in the context of developed economies, not in Indian context.
5. But markets are some times not rational.
6. Short covering was expected after 1 pm due to FII buying, that came.
7. But around 2 pm, suddenly Rupee started depreciating and hence the markets.
8. European markets also fell after positive start.
9. Finally, Nifty closed below 200 day moving average for the first time in last many days.
10. At the same time it is difficult to go short in the markets as there is an event risk, US debt ceiling talks.
11. It is widely expected that there will be some solution to UD Debt talk and markets should go up from Tuesday onwards.
12. Monday also market will be weak. Only from Tuesday, there will be some clarity in the direction of the market.