Mid Market Report, July 2, 2014 | Stocks and Commodities

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July 2, 2014
Time: 12.45 pm

Mid Market Report:

1. Markets are trading as expected.
2. Our target of 7800 before budget will be reached in the next few days.
3. We expect some consolidation in the region of 7780-7820 before budget.
4. Then what will happen depends on budget.
5. Today all sectors are doing well except IT.
6. Rupee is trading below 60 after a long time.
7. Some selling by DIIs is expected towards the end of the day.
8. Caution is required to take fresh longs at this level.
9. Adani group stocks all rallying today.
10. Nifty future should settle down between 7680 and 7760 by the end of the day.