Post Market Report, February 24, 2015 | Stocks and Commodities

February 24, 2015
Time: 9.15 pm

Post Market Report:

1. Markets were highly volatile today also.
2. In fact the whole of February series it has been like this.
3. Between 1 pm and 2.30 pm, Nifty rose nearly 60 points and then fell nearly by 90 points.
4. India VIX is still hovering above 21.
5. Banking stocks as usual under performed.
6. Energy sector also fell drastically as crude prices continued to slide.
7. Yesterday's strong FII figure did not help the markets.
8. But still I feel there will be a huge short covering rally of about 90 to 100 points in Nifty and 250 to 300 points in Bank Nifty, either tomorrow or on expiry day.
9. Most probably, it will be at 3 pm on the expiry day.
10. Today also FIIs have bought heavily in cash market.
11. Today's FII buy is Rs 697 crores and DII sell is Rs 147 crores.
12. SGX Nifty is trading slightly above 8800 after seeing this FII figure and US markets.
13. General expectation is that Nifty should expire between 8800 and 8900.
14. Most likely towards 8900, so that on Friday or just before budget on Saturday, Nifty can cross all time high.