Mid Market Report, January 31, 2014 | Stocks and Commodities

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January 31, 2014
Time: 1.15 pm

Mid Market Report:

1. Markets are trading as expected in sideways with positive bias.
2. Many Asian markets are closed due to Chinese new year holiday.
3. To all my Chinese fans from Singapore , GONG XI FA CAI.
4. Nifty future is facing resistance at 6120.
5. PNB results was not in line with expectation but NPA have improved, so PNB shares are trading 5% higher.
6. That is supporting Bank Nifty also.
7. In fact volatility in Bank Nifty has gone down after PNB results.
8. Europe is likely to open flat with positive bias.
9. US futures are also trading flat.
10. Nifty future is likely to settle down between 6100 and 6120.