Post Market Report, February 19, 2016 | Stocks and Commodities

February 19, 2016
Time: 9 pm

Post Market Report:

1. Today morning I mentioned that I will not be surprised if our markets close in Green even when all the world markets are trading in Red.
2. That has exactly happened.
3. But it did not happen just like that, there was huge volatility.
4. Markets went up despite European cues was negative.
5. Markets were weak in the morning mainly because of HDFC and HDFC Bank.
6. But in the afternoon, there was some buying in HDFC Bank and that triggered the short covering in Bank Nifty.
7. There was some buying in HDFC also but despite that HDFC ended in Red.
8. Though Nifty is trading about 5% higher from the recent low, HDFC is still trading close to the 52 week low.
9. ICICI recovered but HDFC and Maruti are still trading at 52 week low.
10. These are the FII favorite counters that are dragging the markets.
11. But selling slowed down today compared to the last few days.
12. India VIX fell and hence option premiums crashed.
13. All OTM options lost their value and some ITM options also lost value.
14. FIIs have sold for Rs 192 crores and DIIs have bought for Rs 17 crores in Cash market.
15. Nifty may test 7300 if the positive momentum continues next week, but right now US markets are trading in Red.