Mid-Market Report, January 16, 2014 | Stocks and Commodities

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January 16, 2014
Time: 12.40 pm

Mid-Market Report:

1. Markets are consolidating.
2. We said in the morning that it is time to be cautious as this is a rsistance zone.
3. HCL Tech has declared very good results and still IT stocks are not doing well in today's trade.
4. That is because most of the good things have already been factored into the prices already.
5. Markets are waiting for Axis Bank and Bajaj Auto results now.
6. Europe is likely to open positive.
7. Most Asian stocks have erased the gains as Japan fell into negative territory.
8. Just now Bajaj Auto and Axis Bank declared their results.
9. Both results are more or less in line with expectation.
10. No positive or negative surprises.
11. Nifty future should take support around 6300.