Mid Market Report, December 23, 2013 | Stocks and Commodities

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December 23, 2013
Time: 1 pm

Mid Market Report:

1. Markets are trading as expected.
2. Nifty future has resistance at 6320.
3. But highest open interest is at 6300 Call option.
4. So if Nifty future crosses and trades firmly above 6320, then it can move very fast.
5. There is a minor resistance at 6340, the next resistance will be at 6380.
6. Europe will be opening about half a percent higher.
7. US futures are also trading higher.
8. Rupee has also broken 62.
9. So by tomorrow if everything goes well, Nifty future will touch 6380.
10. If Nifty comes down by 20 points by chance by DII selling, use that opportunity to sell 6200 Put options.
11. Nifty is not likely to expire below 6200.