Mid Market Report, January 30, 2014 | Stocks and Commodities

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January 30, 2014
Time: 12.15 pm

Mid Market Report:

1. Markets are trading as expected, taking good support at 6050.
2. But towards the end of the day there will be some move either towards 6020 or towards 6080.
3. Rupee is very stable compared to other emerging currencies.
4. Once again Banking stocks is dragging the markets.
5. Bank Nifty has lost more than 1000 points in the last one week.
6. Two days of gap down open, Nifty lost nearly 200 points.
7. Most Asian markets have recovered from the morning lows.
8. Europe is likely to open negative, but a a big gap down.
9. But expiry day trade will be difficult to predict.
10. We feel that Nifty should expire between 6050 and 6100.