Market forecast 22 January 2014

Market forecast 22 January 2014

NIFTY Jan. expiry future last closed at 6329 with 9 points gain. In Intraday NIFTY, future made low at 6305 while high was at 6342. Total almost 37 points intraday range and closed with gain.

On futures side, +3.33% open interest shed build up suggest long addition. On option side, now put writers active on 6300 contract.

For tomorrow, traders sell nifty future next 6350-6360 zones with strict stop loss of 6380 for target 6300.

BANKNIFTY Jan. expiry future last closed at 11,205 with gain of 168 points. In intraday BANK NIFTY, future hit high at 11,211 while low was at 11,048. Total 200 points intraday range and closed with gain.

On futures side, -5.48% open interest shed suggest short covering. On option side, 11,000 put options is strong support zone on downside.

For tomorrow, traders can go short near 11,300 with stop loss of 11,450 for target 11,100 to 11,000 on downside.

Wipro Limited stock closed at 572 with loss. In intraday stock hit high at 578 while low was near 568. For tomorrow, traders can buy this stock around 568, zone with Stop loss of 558 and for target 590 on upsides.

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The Author

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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