Markets Consolidated, Global Metals Surged

Market overview: 9th October 2015
Stock markets kicked off with a gap-up of 57 points and 129 points in Nifty and SENSEX. Nifty and SENSEX surged above 8225 and 27130 levels but could not sustain and retreated. With the intraday volatility markets closed almost near to where they opened. Nifty closed at 8189 i.e. up 60 points while SENSEX closed at 27079 i.e. up 233 points from the previous close.
Smallcap and Midcap rallied during the session but retreated to close in negative. Both Smallcap and Midcap underperformed the benchmark indices with 0.04% and 0.08% losses.
All the sectors were trading in green where Metal remained at the forefront of the move with 2.13% gains. IT sector followed with 1.18% gains. On the contrary PSU Bank and PSE remained weak with marginal losses.
All major Metals viz; Vedanta, Tata Steel and Tata Motors were the top gainers while Coal India, Asian Paints and BOB were the top losers for the Nifty.
Vedanta and thereby Metal sector surged with the recovery in global commodity prices like Copper, Aluminium and Zinc after the minutes of FEDs policy meeting.
Option Data
Highest OI was witnessed at 8200 CE & 8400 CE and 8100 PE and 8000 PE. As per options data 8200 CE and 8000 PE are likely to remain in focus for October series.
Global Updates:
Wall Street rose after the minutes of Federal Reserve meeting that suggested dovishness so far. U.S. Dow Jones Industrial Average hit 17000 for the first time since 19th August while S&P too closed above 1%.
Asian markets rose on the back of positive U.S. closing in the U.S. markets ahead of Dovishness in minutes of September Federal Reserve meeting. Moreover, a rise in oil prices boosted the energy stocks.
Apart from the FEDs minutes European markets were boosted after the European Central Bank officials told in the minutes that downside risks to inflation intensified over the summer, but need more time to weigh the impact of market volatility and slower growth in China.

Market Overview for 12th October 2015
Markets remained volatile and have created a Doji pattern on a daily charts. We can say that a temporary rally has been made and we can expect some correction before another rally which would confirm in the next session. However the day went in consolidation and hence if the markets correct we hold 8100-8025 as the support levels followed by 7960. The markets closed on the upper side recovering from the intraday retreat. Hence if Nifty continues rallying upside we hold 8225-8360 as the resistances.
Stocks to watch: Auro Pharma and CESC on the upside while BOB and Bosch on the downside