Mid Market Report, January 27, 2014 | Stocks and Commodities

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January 27, 2014
Time: 12.45 pm

Mid Market Report:

1. Markets are trading as expected, down by about 100 points.
2. But our currency is trading stronger than expected.
3. So there could be slight short covering rally towards the end of the day towards 6200.
4. Again it all depends whether FIIs sell or not.
5. This time India is better placed than other emerging markets, but global sell off, India can not withstand.
6. It is a broadbased selling, mid caps and small caps are under performing the large caps.
7. As we have reporeted in the morning, Nifty future should take support at 6150 at least until RBI policy by tomorrow afternoon.
8. Also opinion poll results should act as a cushion in the fall.
9. European markets are likely to open lower by 0.75% to 1%.
10. US futures are flat.
11. If global cues are not that bad and if FIIs do not sell in big quantities then our market will trade between 6180 and 6220 until RBI policy.
12. Then the market will move in accordance with RBI policy.
13. In our view, RBI policy is going to be neutral for markets.