Post Market Report, October 24, 2013 | Stocks and Commodities

P R Sundar, Aditya Trading Solutions

October 24, 2013
Time: 6.15 pm

Post Market Report:

1. Today morning we reported a bullish view.
2. Once markets crossed 2013 high profit booking came.
3. DII selling was so huge and Nifty fell 120 points from high.
4. Then FII buying arrested the slide and Nifty recovered a bit.
5. Today FIIs bought for 991 crores.
6. But DIIs sold for 735 crores.
7. As we have reported earlier, markets are consolidating and it will break out sometimes next week.
8. FIIs are buying almost 1000 crores everyday for more than one week.
9. In this kind of markets, once DII selling slows down, Nifty will zoom in two to three trading sessions.
10. But DII selling will make markets choppy and highly volatile.
11. That is why we always suggest to sell options instead of going long in futures.
12. Today jobless claims came at 350000 in US against the expectation of 340000.
13. This will again increase the expectation of delayed Fed tapering and that is good for Indian stock markets.
14. So tomorrow again Nifty will try to move up.