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Time: 1 pm
Mid Market Report:
- Markets are trading lower than expected.
- But Bank Nifty is doing well as expected.
- Also along the expected line, Metals are doing well.
- Reduced FII buying, heavy shorting in F&O segment by FIIs are responsible for weak markets.
- Traders are heavily short in the market.
- Short covering may come anytime.
- If not today either end of tomorrow or Monday surely there will be shortcovering.
- Tuesday morning markets will either gap up or gap down due to exit poll results by Monday evening.
- VIX once again inching towards 35.
- VIX is likely to peak on May 13 morning, then will cool down and again may shoot up on May 16 morning.
- Nifty future should close above 6720 in order to be positive in the short term.
- Let us see where it closes today.
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