Post Market Report, March 9, 2016 | Stocks and Commodities

March 9, 2016
Time: 7 pm

Post Market Report:

1. Markets made a dramatic recovery which nobody expected.
2. Markets opened with negative bias but FII buying helped markets to recover from the low levels.
3. First, it was Bank Nifty future that wiped out the discount, then traded at a good premium over the spot Bank Nifty.
4. After some time, Nifty future also wiped out about 40 points discount over the spot Nifty and started trading at a premium.
5. Reliance Infra future was trading at Rs 15 discount over the spot price until afternoon but later due to huge short covering, future closed at just Rs 2 discount to the spot price.
6. FIIs have bought for Rs 463 crores and DIIs have sold for Rs 824 crores.
7. DII selling may be due to Container Corporation share sale, once that is over selling by DIIs will subside.
8. FIIs have build huge long positions.
9. FII Call buying is at 5 year high.
10. So market momentum may continue but with volatility.
11. ECB meeting tomorrow, Fed meeting next week are the two important events that will trigger the markets.
12. Nifty 7800 seems to be the next target for Nifty in the next 4 to 6 weeks.