Post Market Report, August 12, 2014 | Stocks and Commodities

August 12, 2014
Time: 9.45 am

Post Market Report:

1. Short covering helped Nifty future to go beyond 7720.
2. I expected Nifty future to find resistance at 7720.
3. But after the markets closed, IIP data and Inflation data came worse than expected.
4. So tomorrow, Nifty future will fall back to the range of 7680-7720 range.
5. Also US markets are down now.
6. But fall will be limited as FIIs have turned net buyers in cash market.
7. FIIs have bought for Rs 371 crores.
8. DIIs have sold for Rs 40 crores.
9. So markets are likely to consolidate for the next few days.