Mid Market Review, September 27, 2013 | Stocks and Commodities

P R Sundar, Aditya Trading Solutions

September 27, 2013
Time: 12.15 pm

Mid Market Review:

1. RBI Governor spoke against the low interest rates, that is reflected in the Bank Nifty today.
2. Bank Nifty fell more than 2% whereas all other indices are either positive or slightly negative.
3. RBI Governor actually spoke of developed economies.
4. Since the sentiment is already weak in Banking stocks, they are coming under selling pressure.
5. Nifty again testing 200 day moving average.
6. Breaking below is not a good sign.
7. Also debt. ceiling talk in US adding to the negative sentiment.
8. Nifty's support is at 5880 for today's trade.
9. Europe to open slightly positive.
10. We have to see how the market moves after 1 pm, because institutions will be coming to the market only after 1 pm.
11. Friday afternoon trade is difficult to predict as traders will square off the weekly trades. Traders usually will not like to carry the positions over the weekend.