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Time: 1 pm
Mid Market Report:
- Markets are consolidating as expected.
- Due to low volume, swing is high.
- VIX is trending down slowly.
- Option premiums also falling in deep out of money options.
- Metal stocks continued to fall.
- Realty index is down by more than 3% mainly due to DLF which has fallen by more than 6%.
- If BJP comes to power, DLF will continue to fall due to its link with Priyanka's husband.
- Europe has opened slightly lower.
- Markets will react to Fed decision only on Friday due to holiday tomorrow.
- Last 2 hours market trend will be difficult to predict as traders will like to square off their trades ahead of holiday and key events.
- If Nifty future settles down between 6780 and 6820, then it is to be taken as consolidation.
- If Nifty future closes below 6780, then it is weakness in the short term.
- If Nifty future closes above 6820, then it is bullish in the short term.
- We will see where it closes today.
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