Post Market Report, December 22, 2014 | Stocks and Commodities

December 22, 2014
Time: 9.30 pm

Post Market Report:

1. Every technical analyst predicted the range 8100 to 8300, but Nifty crossed 8300.
2. Bank Nifty hit a new life time high.
3. Bank Nifty fell nearly 1000 points in two trading sessions last week and then shot up by more than 1200 points in next few sessions.
4. That too without FII buying in cash market.
5. Today also FIIs have sold for Rs 335.24 crores.
6. But DIIs have bought equally for Rs 389.12 crores.
7. Europe opened marginally higher, then came the news that Greek PM announcing election in late 2015 if his Presidential nominee is elected.
8. Note: If nobody wins in Presidential race, election will have to be held in Feb. 2015 and opposition party is likely to win with huge majority. If that happens, they will not agree to bail out terms and that will create panic situation in Europe which is already struggling. So this Greece issue and Fed increasing the interest rate next June-July will be the two major issues next year.
9. That news boosted European shares and European markets shot up.
10. So the short covering took Bank Nifty beyond any body's imagination.
11. Nifty is more than 300 points down from all time high.
12. But Bank Nifty is at all time high now.
13. So the expiry may be between 8300 and 8400.