Mid Market Report, January 28,2014 | Stocks and Commodities

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January 28,2014
Time: 1 pm

Mid Market Report:

1. RBI Governor surprised the markets once again but this time negatively.
2. Only 5% of the people polled said the rate will be increased.
3. So markets broke down and took support around 6080, the level that was tested yesterday night in Singapore.
4. Since the banking stocks are already beaten down, the fall from here will not be much.
5. On positive side, our currency is doing very well.
6. European markets are likely to open flat with positive bias.
7. Dow fell continuously for 6 days and it may stabilise today.
8. US futures are trading positive.
9. Banking stocks may recover a little towards the end.
10. Nifty should take support at 6120. Resistance will be at 6160.