Post Market Report, February 22, 2016 | Stocks and Commodities

February 22, 2016
Time: 9.30 pm

Post Market Report:

1. Today markets traded without much intraday volatility after a long time.
2. As expected Nifty keeps breaking on the higher side everyday but closing lower.
3. But today our markets have under performed the other markets.
4. Europen markets were very firm and yet Nifty could not sustain at higher levels.
5. Now US markets are trading higher.
6. So SGX Nifty is trading above today's high of 7257.
7. Today markets could not sustain higher level mainly due to low volume in Cash market.
8. FIIs have sold for Rs 657 crores and DIIs have bought for Rs 598 crores.
9. ITC fell ahead of the budget which dragged the market.
10. IT index also fell.
11. PSU Banks were a mixed bag, some were up and some were down.
12. Nifty 7200 Put has added 9.8 lakh shares in open interest and that will be a good support until expiry.
13. Nifty 7300 Call also added 6.8 lakh shares in the open interest indicating resistance around the region 7300-7320.
14. So if everything goes as expected we can expect expiry above 7300.
15. We do not know how much shorts are there is the system and FII selling in Cash market is a major concern.
16. Though global cues are very good now, it may change any time.
17. That is why India VIX is not coming down.
18. Let us see tomorrow whether the uptrend sustains.