Mid Market Report, December 13, 2013 | Stocks and Commodities

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December 13, 2013
Time: 12.40 pm

Mid Market Report:

1. Markets are trading as expected.
2. IIP data bad, Inflation data bad, Fed Tapering fear surfaced, Global markets are down.
3. All these are contributing to the weakness here.
4. But many Asian markets recovered from the morning lows.
5. Europe also likely to open slightly positive.
6. If they open positive and continue to trade firmly in positive territory, there may be some short covering here.
7. This is the fourth day of fall and traders will square off their positions ahead of weekend, so 20 to 30 points up move by short covering is possible.
8. This will happen only if there is no aggressive selling by DIIs.
9. FII buying is going down, if there is heavy selling by DIIs then Nifty will break 6180, in that case next support will be at around 6000 only.
10. US futures also trading slightly positive.