Indian Stock Market view 21 October 2013
Nifty future outlook 21 oct 2013
nifty oct expiry future last closed at 6205 with gains of 135 points.in intraday nifty future made low at 6088 while high was at 6224.total 136 points intraday rally and sharp short covering.
on futures side,-2.17% open interest change shows tapped shorts exiting with loss.while on option side,6100 put option closed in red on heavy volume writing and 6200 call option closed in green on high volume.short covering and strong buying was seen.
for monday,nifty future may see follow up buying as well as trapped shorts may try to exit.so buy near 6170-6160 zone with stoploss below 6125 for target 6230-6255 on upside.
Banknifty future outlook 21 oct 2013
banknifty oct expiry future last closed at 10794 with gains of 420 points.in intraday banknifty future made low at 10421 while high was at 10845.total 425 points intraday rally and short covering triggered in market.
on future side,4.36% open interest build up suggest strong hand buying and accumulation.while on option side,10k put option closed in red on high volume writing while 11k call option closed with hefty gains on short covering.
for monday,here expected follow up buying as well as short covering for this index.so buy near 10650-10680 zone with stoploss below 10500 for target 11k-11200 on upside.
Intraday Stocks outlook 21 oct 2013
for tomorrow my pick will be Asian Paints Limited share.on last trading session ASIANPAINT share closed at 487 with flat gains.in intraday made low at 476 while high was at 494.6.here buy near 484-480 zone with stoploss below 473 and expect 505-510 on upside as intraday target.