Post Market Report, February 20, 2014 | Stocks and Commodities

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February 20, 2014
Time: 6.15 pm

Post Market Report:

1. Markets closed lower than expected levels.
2. Nifty future broke the support of 6120.
3. Surprisingly FIIs have bought for Rs 206 crores.
4. But it was DII selling of Rs 601 crores that pulled the markets down.
5. Europe did not support.
6. Europe started lower and then cintinued to fall.
7. US futures are fluctuating.
8.  More than one crore of open interest is there in 6000 Put option.
9. So the markets should find a strong support at 6000.
10. So far 15 trading sessions are over in February series.
11. First 12 trading sessions, Nifty spot closed between 6000 and 6100.
12. Next two trading sessions only it closed above 6100.
13. Today again it closed below 6000.
14. We repoted in "February Outlook" that this month is going to be sideways movent with 200 to 250 points move either way.
15. That is happening.
16. Auro Pharma will be in "Ban" tomorrow also.
17. Now the open interest stands at 87%.
18. It has to go below 80% in order to come out of Ban.