Market forecast 14 February 2014

Market forecast 14 February 2014

NIFTY Feb. expiry future last closed at 5998 with 102 points loss. In Intraday NIFTY, future made low at 5997 while high was at 6108. Total almost 111 points intraday range and closed with loss.

On futures side, +7.28% open interest build up suggest heavy short addition in market. On option side, 6100 call option heavy writing seen today.

As expect nifty given reversed and not sustained above 6120 on closing basis. For tomorrow outlooks remain negative for nifty future and we can expect lower levels up to 5940.

BANKNIFTY Feb. expiry future last closed at 10,130 with loss of 245 points. In intraday BANK NIFTY, future hit high at 10,399 while low was at 10,125. Total 275 points intraday range and closed with loss.

On futures side, +0.75% open interest build up shows short addition. On option side, 10,500 call option writing seen so it will act as strong resistance.

As expected short selling rally happened now watch 10k level as major support if breaks and close below it then that may set bank nifty target at 9,400.

HCL Technologies Limited stock closed at 1488 with flat. In intraday stock hit high at 1502 while low was near 1480. For tomorrow, traders can buy this stock around 1480-1470, zone with Stop loss of 1450 and for target 1555 on upsides.

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.

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