Post Market Report, January 16, 2014 | Stocks and Commodities

January 16, 2014
Time: 9 pm

Post Market Report:

1. After a long time, markets traded within a range, without much volatility.
2. After a big move yesterday, without any positive global cues, our markets not only held on to the yesterday's gain, added some.
3. This means that our markets are strong and as when global cues improves, our markets are likely to hit all time high again.
4. PSU Banks came under profit booking and fell 1.5% and still Bank Nifty did not fall as Private Sector Banks balanced the fall in PSU Banks.
5. Expected petrol price cut came today evening, one day late.
6. IT stocks under performed as TCS results were not impressive.
7. Today Nifty Midcap index hit all time high.
8. FIIs have bought for more than 1000 crore today also.
9. FIIs have bought for Rs 1100 crores and DIIs have sold for Rs 717 crores.
10. Swiss market fell more than 5% today on top of more than 8% fall yesterday.
11. Still European markets have stabilised and trading firmly in Green.
12. US markets are moving in zig zag manner and since US markets fell for 5 trading sessions, there may be some kind of short covering ahead of week end holidays.
13. SGX Nifty hit a high of 5878 after our markets closed.
14. So our markets are likely to be firm.
15. Based on these analysis, I have gone long in Bank Nifty and Nifty heavily today. Let us see whether I am going to be happy on Monday.