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

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March 5, 2014
Time: 1 pm

Mid Market Report:

1. Markets are consolidating after a huge rise yesterday.
2. In the morning, markets fell more than exppected.
3. But recovered to trade in the expected range.
4. Services PMI data came slightly better.
5. Election dates announced.
6. Counting is on Friday, 16th May.
7. So the fear of gap up or gap down by 10% is ruled out.
8. People can react as and when the counting is in progress.
9. Banking stocks were volatile.
10. Bank of Baroda shot up by more than 10% in two trading sessions.
11. We have said earlier there are multiple resistances between 6300 and 6400.
12. For few more trading sessions, Nifty future should trade between 6300 and 6400.
13. Europe will open slightly lower.