Mid Market Report, December 17, 2013 | Stocks and Commodities

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December 17, 2013
Time: 1 pm

Mid Market Report:

1. Short covering fizzled out.
2. Ours is the worst performing market in Asia today.
3. HDFC Bank fell as FIIs can not buy HDFC Bank anymore.
4. That is dragging Bank Nifty further down which is already down by RBI interest rate hike fera.
5. Bank Nifty has fallen more than 1000 points since December 9.
6. Bank Nifty future Dec 9 high was 12349 and today's low is 11335.
7. Europe is likely to open flat with some markets positive bias and some markets negative bias.
8. US futures are trading flat with positive bias.
9. There is no hope of any recovery now.
10. All action will be tomorrow.
11. Those who are looking for high risk and high reward can sell Bank Nifty 10700 Put option and 12000 Call option for a total premium of Rs 100. You will gain as long as Bank Nifty is trading between 10600 and 12100.