Post Market Report, February 24, 2016 | Stocks and Commodities

February 24, 2016
Time: 7 pm

Post Market Report:

1. Just on Monday, every one was bullish, talked about expiry around 7300, Nifty 7200 Put added 9 lakh shares in the open interest.
2. Everything has changed in just two trading sessions and Nifty fell 250 points and Bank Nifty fell 700 points.
3. Now people are talking of expiry below 6900. Those who are holding 6900 Put also sacred.
4. India VIX hit the highest level today morning.
5. The fear is clearly visible everywhere.
6. It is the same FII counters that dragged the markets today.
7. HDFC, HDFC Bank, ITC, ICICI Bank contributed nearly half of the Nifty's 90 point fall.
8. All the four stocks hit fresh 52 week low today.
9. All intraday rallies are used as selling opportunity.
10. FIIs have sold for Rs 731 crores in Cash market and DIIs have bought for Rs 606 crores.
11. Once again the net selling is just 125 crores and markets can fall like this.
12. Europe opened slightly negative but then started falling aggressively and hence out markets also fell.
13. Intraday Nifty future almost touched 7100 and then the severe selling came and fell more than 90 points from there.
14. Yesterday morning Nifty 7000 Put was at Rs 2.10 and now just two trading sessions it is at Rs 23.25, whopping 10 times return.
15. But who could have imagined this?
16. Bluest of blue chip stocks are falling and we do not know where the bottom is.
17. We can be clear only after the budget, but we need to survive until then.
18. Tomorrow once again markets will be highly volatile due to expiry and Railway budget.

Note: I made a mistake in my earlier article about HDFC, I mentioned the market cap as Rs 1660 crores but it is actually Rs 1,66,000 crores. No wonder people can keep on selling Rs 300 everyday in that counter. Today it hit fresh 52 week low.