Market forecast 11 November 2013
Nifty future outlook 11 Nov 2013
nifty nov expiry future last closed at 6182 with loss of 45 points.in intraday nifty future made high at 6227 while low was at 6165.total 62 points intraday range and closed with loss as selling continues.
on futures side,2.42% open interest shed shows fresh shorts added in system and profit booking continues in market.on option side,6100 put option closed in green on high volume shows nifty levels shifted on downside.6300 call option closed in red on high volume writing.
here watch 6100-6130 zone (spot levels) if breaks on closing basis then expect deep downside upto 5900(spot levels).till then keep buy on dips view for nifty.
Banknifty future outlook 11 Nov 2013
banknifty nov expiry future last closed at 10960 with loss of 188 points.in intraday banknifty future made high at 11156 while low was near 10925.total 225 points intraday range and closed with loss as profit booking continues.
on future side,8.76% shed in open interest shows profit booking continues+ fresh shorts are added in system.on option side,11k put option closed with gains on high volume.while 11500 call option writing continues on high volume.
here traders watch 10800-10900( spot levels) as major support zone.any closing below that may show deep correction upto 10k and even below.till then must keep buy on dips view.
Intraday Stocks Tips 11 Nov 2013
for tomorrow my pick will be Reliance Industries Limited share.today RELIANCE stock closed at 874 with loss of 1.33%.in intraday made high at 888 while low was near 871.for monday,traders buy RELIANCE stock near 870 with stoploss 860 and for target 890+.