Mid Market Report, December 20, 2013 | Stocks and Commodities

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December 20, 2013
Time: 1 pm

Mid Market Report:

1. Markets are trading as expected.
2. We reported in the morning that yesterday FIIs have bought for more than 2000 crores and therefore short covering may set in at any time.
3. That is why in the morning we have given only support level, we did not give any resistance level.
4. Ourmarkers are doing extremly well despite not so good global cues.
5. China market is down by more than 2%, Hong Kong is also down.
6. Nifty future should settle down between 6240 and 6280.
7. Gold is trading firmly below US$1200.
8. Those who are taking long term view can short gold, it will eventually go to US$1000.
9. But it may take many months.
10. Friday afternoon market is very difficult to predict, but short sellers would like to square off their trades ahead of week end.