Mid Market Report, May 21, 2014 | Stocks and Commodities

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May 21, 2014
Time: 1.30 pm

Mid Market Report:

1. Markets are consolidating as expected.
2. Bank Nifty is down, profit booking continues in banks.
3. Banks are the worst performers today.
4. IT and FMCG are supporting the markets.
5. Most world markets are down.
6. FII selling in cash market yesterday is the main reason why people book profits in Banking stocks.
7. Europe is trading down.
8. So the markets are likely to be in sideways for one or two more days.
9. There are no triggers at present.
10. Nifty future should close above 7280, otherwise ther will be some more selling tomorrow.