Mid Market Report, January 29, 2014 | Stocks and Commodities

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January 29, 2014
Time: 1 pm

Mid Market Report:

1. Markets are trading as expected between 6120 and 6180.
2. If there is any short covering, that will happen towards the end of the day.
3. Europe is likely to open half a percent higher.
4. US futures are also trading higher.
5. Ahead of Fed policy, there will be no significant move.
6. Tomorrow there may be a significant move.
7. Rupee is trading firmly below 61.50 and that is good for our markets.
8. ICICI Bank results are in line with expectation.
9. Bharti Airtel results are also in line with expectation and there is no big moves in these two stocks.
10. If there is no short covering, Nifty will close between 6140 and 6180 and if there is any short covering, then Nifty will close between 6180 and 6220.