Post Market Report, October 7, 2014 | Stocks and Commodities

October 7, 2014

Time: 8 pm

Post Market Report:

1. Markets fell more than expected.
2. Nifty future was trading around 7940 for first half of the trading sessions.
3. Then came the news that German manufacturing data was very low, seen only in 2009.
4. Then European markets fell and our markets followed.
5. Yesterday the news came that IMF cautioning the slow down in Europe and China.
6. So whenever there is bad news about China, Metal stocks will fall.
7. Today also the same.
8. PM Narendra Modi spoke about land deal of Gandhi families.
9. So DLF fell more than 5%.
10. PSU Banks fell.
11. PSU Banks have fallen anywhere between 15% to 35% from their peak levels.
12. After the markets close, came the warning by IMF that "froth in stock prices" and Europe fell more.
13. So US markets also fell significantly.
14. Most analysts felt that Nifty will take support at 7850, the previous low.
15. "Consensus" is always dangerous in stock markets.
16. So tomorrow, Nifty is likely to fall below 7850 and that will trigger technical fall.
17. Nifty is likely to travel to 7500 in the next few weeks with volatility. 
18. FIIs have sold for Rs 332.84 crores.
19. DIIs have bought for Rs 327.65 crores.