Mid Market Report, December 18, 2013 | Stocks and Commodities

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December 18, 2013
Time: 12.15 pm

Mid Market Report:

1. We reported in the morning that Bank Nifty is likely to swing 400 points.
2. Fro low to high, it swung 485 points.
3. RBI surprised the market with no rate hike.
4. RBI has done this so that the damage will not be very bad if Fed tapering news is bad.
5. If Fed tapering news is good, RBI can always tweak the rates outside the policy review.
6. One big local event is over.
7. Volatility is down by about 5.5%.
8. Tonight one more big event from US.
9. Then by tomorrow, VIX will collapse further.
10. Option premiums will also collapse.
11. All depens upon the severity of the Fed tapering news.
12. Nifty shot up by about 100 points from the day's low.
13. Today's high of 6260 will the resistance until the end of the day.
14. Support will be around 6220.
15. Nifty future is expected to settle down by 6220 and 6260.
16. Europe is likely to open higher.
17. US futures also trading positive.