Mid Market Report, July 8, 2014 | Stocks and Commodities

 July 8, 2014
Time: 1 pm

Mid Market Report:

1. Markets are seeing some profit booking ahead of Union Budget.
2. Nifty future is finding some support at 7550.
3. Europe has opened slightly positive.
4. Railway budget announcements so far are in line with markets expectation.
5. Markets are disappointed slightly as there are no details of FDI in Railway and clarity on High Speed Trains.
6. Only Pharma sector is doing well.
7. Most other sectors are down.
8. Banks are down particularly.
9. Bank Nifty has given up all the gains it made last Friday.
10. Banks will have to move, if Nifty has to touch new high.
11. Banks have been under performing for the last many days.
12. We have see in the afternoon how markets are reacting to the Railway budget.
13. VIX is trading closer to 20, likely to cross 20 either tomorrow or just before budget on Thursday.
14. Nifty future is likely to settle down between 7750 and 7820.