Mid Market Report, June 10, 2014 | Stocks and Commodities

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June 10, 2014
Time: 1 pm

Mid Market Report:

1. We reported in the morning that correction may come.
2. Intraday correction was so bad that Nifty future broke the support of 7620 and traded close to the next support of 7580.
3. But recovered later and now trading above 7620.
4. Europe is likely to open flat with negative bias.
5. As we reported in the morning, correction was led by Banking and Realty stocks.
6. But much awaited correction, though intraday, has come and hence VIX has also come down.
7. Despite market trading lower, put option premiums have come down.
8. Markets are likely to consolidate further.
9. Next big move will be closer to the budget.
10. Today Nifty future is likely to settle down between 7620 and 7680.