Post Market Report, December 16, 2013 | Stocks and Commodities

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December 16, 2013
Time: 7 pm

Post Market Report:

1. Markets closed as expected.
2. Europe opened lower, but recovered later after PMI data from German was higher than expected.
3. But that did not have any effect here mainly due to bad sentiment here as FIIs have sold more than 400 crores in cash market.
4. US futures were positive in the morning, then it was negative late in the morning, again now firmly positive after European markets strengthened.
5. Though Nifty was not doing well, IT and Pharma sectors did very well.
6. Banking stocks also did not do badly.
7. If US markets do well, then our market will trade with positive bias but will not rise significantly.
8. We expect resistance for Nifty future between 6220 and 6240.
9. VIX is also moving higher.
10. So keep options only in the month of March.
11. Those who can take higher risk can keep options in the current month as volatility is expected to go down on Thursday morning itself.
12. But keep at least 200 points distance on both sides.