Post Market Report, March 8, 2016 | Stocks and Commodities

March 8, 2016
Time: 8.30 pm

Post Market Report:

1. Markets were highly volatile.
2. Nifty took support at yesterday's low.
3. China's export fell 25% and that has affected the stock markets all over the world.
4. Europe opened firmly in Red.
5. US futures were down by more than 100 points at the time of our market's close.
6. Last week's huge bull run is stopped by today's consolidation.
7. US markets are trading lower right now and SGX Nifty is marginally negative.
8. Nifty future tried to break 7400 on the downside on Friday as well as today but did not break.
9. If US markets close with more than 1% loss, then in tomorrow's trade Nifty future may break 7400.
10. Despite Nifty trading closer to 7500, Nifty 7500 Call still has the highest open interest among Calls.
11. At the same time, bulls are also not deterred by the intraday volatility, Nifty 7200 Put added more than 7 lakh shares in open interest.
12. People expect markets to trade sideways as there is no immediate trigger for the markets.
13. On Thursday, ECB decision may ba an important event to watch.
14. IIP data will be released only after markets close on Friday.
15. So far there is no news about rate cut from RBI.
16. RBI may wait for inflation number or may wait until next policy meet which is due in the first week of April.
17. This week will be a sideways week but next week will be an action packed week.
18. Next week markets will react to IIP data, inflation data, Fed meeting etc.
19. Nifty is not likely to cross 7550 until the end of this week.
20. PSU Banks dragged the markets today due to consolidation news among the PSU Banks.
21. Though it may be good for smaller PSU Banks, it is not good for larger PSU Banks.
22. In this kind of sideways market, India VIX is up by more than 3% which is not a good sign.
23. If Nifty breaks 7380 on the downside, the next support will be only at 7250.