Mid Market Report, January 24, 2014 | Stocks and Commodities

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January 24, 2014
Time: 1 pm

Mid Market Report:

1. Markets have fallen more than expected.
2. We thought Nifty future would find support at 6300.
3. Towards the end it may recover partially.
4. Europe is likely to open slightly lower.
5. After the open if they do not fall much, then here our markets may stabilse.
6. Argentina currency has depreciated by 15% is affecting currency markets in all emerging markets.
7. Mid caps and small caps are falling more than large caps.
8. Also Bank Nifty falling more than Nifty.
9. Earlier some people thought RBI could reduce the rate by 25 basis points.
10. Now due to their inflation report, nobody is expecting any rate cut.
11. Nifty is expected to take support around 6280 which is an important support.