Mid Market Report, June 4, 2014 | Stocks and Commodities

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June 4, 2014
Time: 1.30 pm

Mid Market Report:

1. Due to some unavoidable circumstances we could not bring Pre Market Report.
2. Markets are expected to consolidate after two days of big rally.
3. Exactly that is what happened yesterday and is happening today.
4. After few days of consolidation, Nifty will likely to move towards 7480-7500 range.
5. Nifty will find some resitance is that zone.
6. Yesterday Nifty was up and Bank Nifty was down.
7. Today exactly opposite is happening.
8. PSU Banks are out performing Private sector banks.
9. As usual, in a rising market, IT, Pharma and FMCG sectors are under performing.
10. Europe is trading slightly positive.
11. Nifty future is likely to settle down between 7400 and 7440.