Mid Market Report, February 7, 2014 | Stocks and Commodities

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February 7, 2014
Time: 12.45 pm

Mid Market Report:

1. Markets are trading as expected.
2. Nifty future facing resistance at 6100.
3. Today after the markets close, GDP estimate data from India and Unemployment rate and Payroll data from US will be declared. 
4. These two data are key data for this month.
5. So ahead of two key data, people will not take any new positions.
6. Since the market is down, traders may square off their positions towards the end and that may lift Nifty futures to 6120.
7. Friday afternoon market is very difficult to predict.
8. There are lot of speculative activities in Tata Motors and Tata Steel ahead of their results.
9. Bank Nifty is still under performing.
10. Europe is likely to open slightly positive.
11. US futures are also trading positive.
12. Ahead of Key payroll data, all these are meaningless.
13. Nifty future should settle down between 6060 and 6120 by the end of the day.