Mid Market Report, May 29, 2014 | Stocks and Commodities

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May 29, 2014
Time: 1 pm

Mid Market Report:

1. Markets are trading lower as expected.
2. But the last one hour will be totally different.
3. Either Nifty will breakdown and move towards 7220, or will break out and move towards 7380.
4. There my be some short covering in Banking stocks that may lead the Nifty higher.
5. Market is down primarily due to Infosys.
6. Infosys is down as the president left Infosys.
7. Asian markets all trading close to the one year high.
8. Europe has opened slightly positive.
9. PSU Banks are recovering, though Bank Nifty is down PSU Bank index is up.
10. It will be a volatile move in the afternoon.
11. Let us see where the Nifty expires.