Indian stock market forecast, nifty future and options outlook, banknifty futures and options predictions, stock levels, technical analysis and share trading tips for 19 March 2014.
NIFTY March expiry future last closed at 6546 with 8 points gain. In Intraday NIFTY, future made high at 6602 while low was at 6522. Total almost 80 points intraday range and closed gain on follow up buying. On futures side, +5.23% open interest build up suggest long accumulation. On option side, 6500 put options writing was seen which support on downside is for now. Above 6480, keep buy on dips view for nifty future on upside targets remains at 6600-6640.
BANKNIFTY March expiry future last closed at 12,167 with gain of 38 points. In intraday BANK NIFTY, future hit high at 12,340 while low was at 12,105. Total 235 points intraday range and closed with gain. On futures side+2.03% open interest build up suggest fresh long addition in market. On option side, 12,500 call option writing has been seen. For tomorrow, banknifty outlook is bullish and above 12k, level traders keep buy on dips view.
India VIX current future last closed at 1712 with almost 8 points gain. In intraday NVIX hit high at 1738 while low was at 1679. Total 60 points intraday range and some long addition. On futures side+19.57% open interest build up suggest long addition by hedgers. For tomorrow, 1680 is support for target 1750-1760.
Cipla Limited stock closed at 386 with loss. In intraday stock hit high at 391 while low was near 382. For tomorrow, traders can buy this stock near 380-384 level with strict stop loss below 374 for target 405 and above.