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

November 24, 2015
Time: 7.15 pm

Post Market Report:

1. Our markets have opened firmly and traded with positive bias.
2. Bank Nifty was doing well compare to the broader markets.
3. Then the news came, Turkey shot a Russian fighter jet, markets lost momentum.
4. Mid caps and Small caps did better.
5. Europe started trading lower and Dow futures also fell after this news.
6. But the fall in our markets was not much compared to other markets.
7. After this news, FIIs seems to have pressed the sell button.
8. That was reflected in the data, FIIs have sold for Rs 540 crores in Cash market.
9. DIIs however have bought for almost equivalent amount at Rs 532 crores.
10. Banking, Auto and Pharma stocks fell.
11. Sun Pharma hit a 52 week low of 704. It has been falling from the 52 week high of 1200.
12. Even Auro Pharma fell by Rs 12. I have positions in Auro Pharma. Lot of Put options at 820 and 800 and lot of Call options at 860 and 880. I also have futures position, long at 820 with 820 Call sold at Rs 33.
13. Auto stocks fell because of Bosch, Maruti and Bajaj Auto. I have all kinds of position in Maruti.
14. Bank Nifty fell after 2 pm.
15. US GDP data came better than expected but futures did not improve.
16. SGX Nifty has broken 7800 after seeing the FII sell figure and the reaction of US and European markets for Turkey-Russia issue.
17. So our markets are likely to fall on the expiry day. If parliament session is adjourned then the selling will accelerate.
18. As I always say, expiry always go in favor of short sellers.
19. Luckily I squared up most of my long positions today.
20. Mr Prabhu Veereraghavan, an active blogger, expected short covering rally to take Nifty above 8100, but it is not likely to close above 8000.