Market forecast 22 April 2014

Market forecast 22 April 2014

Market forecast 22 April 2014 NIFTY April expiry future last closed at 6827 with 28 points gain. In Intraday NIFTY, future made high at 6849 while low was at 6801. Total almost 50 points intraday range and closed gain with another short covering. On futures side, -6.92% open interest cut shows sharp short covering. On option side, 6800 call options writing was seen which is now strong support on downside. For tomorrow, traders watch 6840 level for breakout and above it next target will be at 6950.   BANKNIFTY April expiry future last closed at 12,988 with gain of 160 points. In intraday BANK NIFTY, future hit high at 13,045 while low was at 12,850. Total 200 points intraday range and closed with gain. On futures, side -4.86% open cut shows fresh short covering. On option side 13,000 call options writing has been seen. For tomorrow, traders must watch 13k as breakout level for target 13,200-13,280.   India VIX current future last closed at 3465 with almost 24 points loss. In intraday NVIX hit high at 3615 while low was at 3460. Total 150 points intraday range and closed with loss. On futures, side -41.09% open interest cut shows late profit booking. For tomorrow, expect higher volatility in index future and above 3400 keep buy on dips view.   ITC Limited stock closed at 352 with loss. In intraday stock hit high at 356 while low was near 349. For tomorrow, traders can sell this stock near 355-356 level with strict stop loss 362 for targets 340.

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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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