Mid Market Report, February 5, 2014 | Stocks and Commodities

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February 5, 2014
Time: 12.45 pm

Mid Market Report:

1. Our markets are stabilising after the initial fall due to huge selling figure of FIIs yesterday.
2. Once again markets took support around 200 Day Moving Average.
3. But we have to see how afternoon markets move as FIIs will sell only in the afternoon.
4. Europe is likely to open lower.
5. Asian markets opened positive but could not sustain.
6. Hong Kong markets fell more than 100 points today after falling more than 600 points yesterday.
7. Rupee is trading stronger, below 62.50, against US dollar.
8. If markets close positive today, then it is very good as we are out performing other markets.
9. Heavily beaten down stocks are seeing some buying momentum like Tata Motors and PSU Banks.
10. This shows that people are ready to buy at lower levels.
11. So the downside may be limited from here.