Mid-day report ( 4th Oct)

At 1.28 pm the Nifty Fut is at 6197 and the Bank Nifty at 12715.

The Nifty has bounced strongly off the High level reached on Friday.Up ahead it can reach 6214 and strength above that can halt the intra-day weakness seen from 6248 levels.

Rememeber, in strong uptrends, corrections if any are in the intra-day timeframe and this move down of 66 points from the day highs cab be a good opportunity to buy.

6160 seems to be defended and value created above that can only mean that the uptrend is on.

The Bank Nifty is known now-a-days to be quite in the first session and give a big move in the second.

We are watching levels above 12750 for more strength which can give another 100 points.