Post Market Report, October 9, 2014 | Stocks and Commodities

October 9, 2014
Time: 7.20 pm

Post Market Report:

1. The short covering rally was in line with our expectation.
2. Despite such a big rally, FIIs have sold in cash market.
3. FIIs have sold for Rs 20.89 crores.
4. But DIIs bought for Rs 623.64 crores.
5. US markets are trading slightly lower now.
6. So our markets are likely to consolidate.
7. Due to corporate results, our markets are likely to be choppy.
8. Tomorrow, Infosys results will set the trend.
9. All IT stocks have corrected ahead of Infosys results.
10. That is good for the market.
11. Next week, many front line companies will declare results.
12. Also IIP data to be declared tomorrow evening will also affect our markets next week.
13. I predicted a range of 7800 to 8200 last week.
14. If 8050 is taken out, then Nifty will head towards 8200.
15. For tomorrow, it is all about Infosys results.