Mid Market Report, December 11, 2013 | Stocks and Commodities

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December 11, 2013
Time: 12.45 pm

Mid Market Report:

1. Markets are consolidating with negative bias.
2. Nifty future should take a strong support at 6320.
3. Export import data came which was good.
4. Europe is likely to open negative.
5. US Govt deal raises concern about Fed tapering.
6. So markets will be consolidating until Fed tapering issue gets clear on 18th December.
7. That will be the next trigger for the markets.
8. Mondays rally gain was more or less wiped out by two days of negative consolidation.
9. So if Nifty future goes below 6303, Friday's close, then technically market will loose momentum.
10. Bank Nifty has lost more than what it gained on Monday.
11. Yesterday's DII selling was much higher than FII buying.
12. That is also adding to the negative sentiment.
13. Nifty future should settle down between 6320 and 6360 by the end of the day.