Market forecast 2 April 2014

Market forecast 2 April 2014

Market forecast 2 April 2014

NIFTY April expiry future last closed at 6761 with 21 points gain. In Intraday NIFTY, future made high at 6767 while low was at 6705. Total almost 62 points intraday range and closed gain with another short covering. On futures side, +0.07% open interest build up suggest long addition. On option side, 6800 call options writing was seen which is upcoming resistance. Market showing signs of fatigue so correction is expected ahead use 6780-6820 for shorts addition with strict stop loss and expect pull back up to 6600-6640 in upcoming sessions. Next major move is happen if nifty close above 6840.

 

BANKNIFTY April expiry future last closed at 12,677 with loss of 147 points. In intraday BANK NIFTY, future hit high at 12,894 while low was at 12,565. Total 350 points intraday range and closed with loss. On futures, side -5.24% open interest build up shed suggest profit booking. On option side 13,500 call options writing has been seen from hedgers. For tomorrow, banknifty future below 12,900 remains bearish.

 

India VIX current future last closed at 2068 with almost 98 points loss. In intraday NVIX hit high at 2162 while low was at 2068. Total 95 points intraday range and closed with loss on profit booking. On futures, side -0.65% open interest cut shows profit booking. For tomorrow, below 2100 keep short view.

 

Ambuja Cements Limited stock closed at 203 with gain. In intraday stock hit high at 205 while low was near 197. For tomorrow, traders can buy this stock near 198-200 level with strict stop loss 194 for targets 215.

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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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