Post Market Report, November 23, 2014 | Stocks and Commodities

November 23, 2014
Time: 9 am

Post Market Report:

1. Markets broke out today.
2. Banking sector is the sole leader.
3. FIIs can buy in Yes Bank, Kotak-ING merger lifted the sentiment in banking sector.
4. Then came the news that China cut the interest rate.
5. It is possible that some people knew this even before it became public.
6. China interest rate cut helped all the world markets to trade in Green.
7. That helped the momentum in our market.
8. Since the markets were weak and finding resistance above 8400, many technical traders shorted in the morning.
9. They had to square up as the momentum continued in the afternoon.
10. All these happened without any support by FIIs and DIIs in cash market.
11. Both FIIs and DIIs bought for less than 150 crores.
12. After our markets closed, Singapore Nifty traded at a high of 8465 but closed at 8524.
13. So the momentum likely to continue on Monday.
14. Expiry may be between 8500 and 8600.
15. Since the markets broke out, markets may consolidate in the next few sessions.
16. Then since the expiry is very near, people may wait for expiry to be over to create new positions.