Post Market Report, October 30, 2015 | Stocks and Commodities

October 30, 2015
Time: 7 pm

Post Market Report:

1. Another disappointing day of trade.
2. This week was very bad.
3. All 5 days markets fell and all five days markets closed at the lowest end of the day.
4. I have not seen such a fall in last many years.
5. But it is not because of sentiment or any pther reason, is purely results reaction.
6. 60% of the fall was contributed by just 2 stocks, ITC and L&T.
7. Everything was well until early afternoon, then came ITC results and ITC fell by 5% and that dragged the Nifty future to 8100.
8. Later in the afternoon L&T came out with results and cut the order guideline from 15% to 5-7% and that really spooked the markets, Nifty fell below 8050 at point of time.
9. In the begining of the week, it started with HDFC's not so good results, continued by Axis Banks NPA issue and ended with ITC & Larsen.
10. Luckily Bank Nifty was higher due to good results, particularly not so bad NPA, from ICICI and Kotak Bank.
11. Markets have fallen so fast and so sharp. Bluest of Blue Chip stocks have fallen by 5 to 10% in a week time.
12. L&T saw more than 400 crores of delivery based selling and ITC saw more than 300 crores worth of delivery based selling.
13. Outside Nifty, good quality shares like Eros. apollo tyres, just dial, wockhardt pharma, HDIL, Voltas all fell
14. Now Nifty has come to the support zone of 8000 - 8050.
15. Markets may consolidate next week until Thursday and then Bihar election news will decide the trend.
16. We are just in the beginning of the series and Nifty is around 8050, surprisingly the highest open interest is at 8000.
17. FIIs have sold heavily at Rs 1464.89 crores.
18. SInce the markets have come closer to the support zone, DIIs have bought for Rs 1560.11 crores.
19. Highest open interest at 8000 and huge buying by DIIs make me to think that market has good support at 8000 at least until Bihar election news.