Mid Market Report, January 15, 2014 | Stocks and Commodities

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January 15, 2014
Time: 1 pm

Mid Market Report:

1. Markets are trading as expected.
2. Just now, Yes Bank has declared its results.
3. Results are in line with expectation, nothing positive surprise.
4. So Yes Bank has fallen by about Rs 10 from intra day high.
5. Europe is likely to open positive.
6. US futures are also trading slghtly positive.
7. If the markets close firm between 6300 and 6320 by the end of the day, then next target will be 6380.
8. All depends on HCL Tech, Axis Bank, TCS results tomorrow and WIPRO, HDFC BAnk and Reliance results on Friday.
9. Reliance will declare results after the market hours on Friday and hence the reaction will be felt only on Monday.
10. Rupee trading below 61.50 and crude oil trading lower are good news for India.
11. But significant up move is not possible without FII buying, but they have not started buying in good quantities.