Mid Market Report, April 17, 2014 | Stocks and Commodities

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April 17, 2014
Time: 12.50 pm

Mid Market Report:

1. We expected the short covering towards the end of the day.
2. But the short covering came in the morning itself.
3. SO markets may trade around this level for the rest of the day.
4. Almost all sectoral indices are up marginally.
5. Volatility index has come down again.
6. Still 22 April expiry VIX futures is trading nearly 13% higher, there are only two trading sessions left for expiry (excluding today)
7. Ukraine problem may escalate by taking advantage of 3 days week end in order not to create panic in financial markets.
8. So traders will like to book profits ahead of long weekend.
9. Our markets look stronger, yesterday it broke 6700 was to be considered as an abberation.
10.  If Nifty future trades firmly above 6760, then it will head towards 6820 before expiry.