Nifty cracked nearly 2% today. The intensity of afternoon selling suggested that sellers were not expecting anything good to come out of FOMC meeting at Jackson Hole today. Bernanke spoke about 3 hours ago and within 10 minutes most markets were down. Nifty had already closed by then so I am talking about S&P, Bonds, Meat, Copper, Crude.
Just after initial nervous selling, a short squeeze began in nearly every tradeable commodity out there. S&P went up to 1176 after failing to break through 1136 level. As of this moment, almost all of above markets are yet to prove that bearishness is over but the intensity of buying is amazing. Its almost as if Ben had to simply show up and finish his speech for trading rooms across the world to go into a buying frenzy! Check the charts yourselves. Visit finviz.com or forexpros.com or any of the million charting sites.
I just checked broad figures of FII selling and buying at NSE today. Yes, FIIs were selling again in cash today but DIIs bought more on net basis for a change. In futures, FIIs were net buyers. So who was selling and to whom and why? Were these retail investors or did DIIs try outdoing FIIs in shorting? Today's sellers may just end up facing a wall of gap up open on monday morning. Market may come back down eventually but leveraged sellers could have a tough time. Can't wait for monday morning now!
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12 comments:
today's figure (in your spreadsheet) are amazing.. i think there was some dumb money throwing in the towel.. the way nifty collapsed in the last hour.. has signs of intermediate capitulation.. i think nifty will do some kind of reversal.. maybe atleast to 5000
Dear Sir,
I literally shouted in the dealing room on friday that the weak longs are now out of the system and market may rally on monday .... No body bothered .... And many shorted near 4740 as they think that 4837 broken so now 4500 net week
This is how a large chunk of traders are loosing money they dont even care to listen their RM's
anwar: man this s CS post and not kris..
cs is the guy who came out with BN target of 8000 when it was 12000..with logic..
and kris is a guy who intrepret oi and act upon it...the best trader..
@manu i like all Vtrender posts.. doesn't matter where it comes from!
anwar..and i like your posts..
that gap down file when opened showed some serious capitulation..i marked that post to shai and members in the vroom..u may join vroom , hav a trial, we will learn from you..
@ Tarique,
Thank you for the vote of confidence.
@shai.. you are most welcome..! to be honest i am hooked to your day end analysis on the spreadsheet.. and disappointed too when i dont see them!
@manu.. i would love to join vroom.. how can i do it?
anwar..vtrender@gmail.com
@manu.. didn't get you.. what email is that?
anwar..just mail it here and shai will revert back to you on vroom..
@manu.. cool mailed to the ID.. now hoping to be in vroom..! BTW what happens there :) ?
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