Market forecast 23 January 2014

NIFTY Jan. expiry future last closed at 6345 with 19 points gain. In Intraday NIFTY, future made low at 6291 while high was at 6366. Total almost 75 points intraday range and closed with gain.On futures side, -0.82% open interest shed suggest short covering. On option side, aggressive writing seen at 6300 put options.For tomorrow, traders keep strict stop loss at 6385 for short position and expect downside target 6300 and below.

BANKNIFTY Jan. expiry future last closed at 11,192 with gain of 3 points. In intraday BANK NIFTY, future hit high at 11,265 while low was at 11,104. Total 260 points intraday range and closed with gain.

On futures side, -0.97% open interest shed suggest short covering. On option side, 11,000 put option writing seen.For tomorrow, traders keep short view with strict stop loss at 11,300 for target 11,100-11,000.

Sun TV Network Limited stock closed at 365 with loss. In intraday stock hit high at 370 while low was near 362. For tomorrow, traders can sell this stock around 370, zone with Stop loss of 380 and for target 350.

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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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