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

Sponsored by

March 7, 2014
Time: 1 pm

Mid Market Report:

1. It is a "Good Friday", both Nifty and Sensex at all time high.
2. We thought Nifty future will find resistance at 6480 and if that is crossed, it should trade in the range of 6480 and 6520.
3. But today itself, it has crossed the range of 6480 - 6520.
4. Next target will be 6580.
5. We said yesterday that without any reason stocks like Reliance Infra rose by 10%.
6. We also said that it is an indication that high beta stocks will rise.
7. But the rise in high beta stocks is much higher than our expectation.
8. As we reported in the morning, Pharma index is falling.
9. As reported in the morning, Rupee traded below 61, hit 60.90 and hence IT stocks are falling.
10. Friday afternoon trade is difficult to predict.
11. We expect some profit booking towards the end and Nifty future to settle down between 6480 and 6520.