6 November Market forecast
Nifty future outlook 6 Nov 2013
nifty nov expiry future last closed at 6296 with loss of 57 points.in intraday nifty future made low at 6284 while high was at 6356.total 72 points intraday range and closed in red as expected.
on futures side,-3.16% open interest shed shows fresh shorts as well as strong hands profit booking.on option side,6400 call option tumbled as writers now active there eon large volume while 6200 put option closed in green on buyers interest.
for Wednesday ,below 6320 keep bearish view and may show deep downside upto 6250-6200 in intraday.below 6250 expect another major breakdown for nifty.
Banknifty future outlook 6 Nov 2013
banknifty nov expiry future last closed at 11565 with loss of 120 points.in intraday banknifty future made high at 11835 while low was at 11560.total almost 300 points downside from top and heading towards 11400-11100 levels.
on futures side,4.49% open interest rise shows fresh shorts added in system.on option side,12k call option closed in red on heavy writing volume.while 11500 put option seen gains as buyers out there.
for Wednesday,below 11680 keep sell on rise view for target 11400 and then 11100 possibly if profit booking creates panic.
Intraday Stocks Tips 6 Nov 2013
for today my pick will be Mahindra & Mahindra Limited share.today M&M share closed at 907 with loss of 1.31%.in intraday hit high at 923 while low was near 902.here traders for intraday short short near 912-915 zone with stoploss 930 and for target 880.