Stock Market , nifty future and option, banknifty future and option and stocks forecast 21 February 2014.
NIFTY Feb. expiry future last closed at 6108 with 51 points loss. In Intraday NIFTY, future made low at 6102 while high was at 6140. Total almost 38 points intraday range and closed with loss.
On futures side, -5.21% open interest cut suggest sharp profit booking. On option side, 6100 put options seen buying as well as short covering.
Nifty future below 6120 remains sell for targets 6050 and then 5980.
BANKNIFTY Feb. expiry future last closed at 10,448 with loss of 174 points. In intraday BANK NIFTY, future hit high at 10,560 while low was at 10,430. Total 130 points intraday range and closed with loss.
On futures side, -2.39% open interest cut shows sharp profit booking. On option side, 10,400 put option buying was seen today.
Below 10,400, expect downside up to 10,100 to 10,000. Any closing below 10,400 means shorting opportunity.
Ranbaxy Laboratories Limited stock closed at 361 with loss. In intraday stock hit high at 366 while low was near 360. For tomorrow, traders can sell this stock around 365, zone with Stop loss of 375 and for target 340.