Post Market Report, November 16, 2015 | Stocks and Commodities

November 16, 2015
Time: 6 pm

Post Market Report:

1. Nobody in the morning would have thought of Nifty closing above 7800 today.
2. Dramatic recovery of more than 120 point intraday recovery in Nifty today.
3. I have mentioned that our market are 'Over sold' and this kind of sudden rise is expected.
4. But still FIIs have sold heavily, they have sold for Rs 1051.26 crores, highest in the last few weeks.
5. DIIs have bought for Rs 661.71 crores, nearly 400 crores lower than FII selling.
6. Earlier I mentioned that Bank Nifty is out out forming the Nifty and 'we have to see whether Nifty brings Bank Nifty down' or 'Bank Nifty is going to bring Nifty up'.
7. Today it is the Bank Nifty which brought Nifty higher.
8. Though Europe opened lower, most European markets have erased the losses to trade in Green.
9. US futures are also trading in Green.
10. Late in the morning, there was a news that said Finance Minister will be meeting Congress leaders to sort out GST issue.
11. That had a positive effect in the markets.
12. Except IT index, all other indices ended in Green.
13. Nifty future closed above 7820 is a positive thing.
14. As long as there are no bad news, it seems that Nifty will not break below 7700 until the end of this expiry.
15. We can tell surely only after two days of trading.