Mid Market Report, July 3, 2014 | Stocks and Commodities

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July 3, 2014
Time: 12.45 pm

Mid Market Report:

1. Markets are consolidating as expected.
2. We reported in the morning that Nifty future will find support at 7720.
3. It touched a low of 7726.30 then recovered.
4. Good Services PMI data is also supporting the market.
5. Technical glitch in BSE is a problem.
6. So our volume is likely to be low and hence volatility will be high.
7. Nifty future corrected nearly 50 points in the morning.
8. Energy and Realty indices are down.
9. Banks are holding.
10. Europe has opened almost flat.
11. Nifty is likely to consolidate today and tomorrow as we reported in the morning.
12. Big moves can be expected only next week.