Nifty bank nifty futures, options and stocks forecast 18 February 2014
NIFTY Feb. expiry future last closed at 6098 with 40 points gain. In Intraday NIFTY, future made low at 6045 while high was at 6099. Total almost 44 points intraday range and closed with gain.
On futures side, +0.30% open interest build up suggest some buying. On option side, 6100 call option writing seen today.
As expected recovery rally is extending for nifty. On upside watch 6120-6140 zones for future. Any daily closing above it will be trend reversal and set targets of 6240-6280.
BANKNIFTY Feb. expiry future last closed at 10,356 with gain of 117 points. In intraday BANK NIFTY, future hit high at 10,371 while low was at 10,210. Total 150+ points intraday range and closed with gain.
On futures side, -2.48% open interest build cut suggesting sharp short covering. On option side, 10,000 put option writing seen so it will act as support for now.
Bank nifty is showing resilience to selling near 10k level, which eventually turns into reversal and Bull Run. So buy near 10,200 with stop loss below 10k for target 10,500 and above until expiry.
Indraprastha Gas Limited stock closed at 255 with loss. In intraday stock hit high at 257 while low was near 251. For tomorrow, traders can buy this stock around 250-252, zone with Stop loss of 245 and for target 265 on upsides.