Indian stock market forecast, nifty future and options outlook, banknifty futures and options predictions, stock levels, technical analysis and share trading tips for 25 March 2014.
NIFTY March expiry future last closed at 6597 with 86 points gain. In Intraday NIFTY, future made high at 6611 while low was at 6532. Total almost 80 points intraday range and closed gain with fresh short squeeze. On futures side, +2.48% open interest build up suggest long accumulation. On option side, 6600 call options writing was seen which is resistance of upside. For long traders 6555 is trailing stop loss for target 6640-6680. Closing below 6555 may trigger correction for very short time.
BANKNIFTY March expiry future last closed at 12,468 with gain of 366 points. In intraday BANK NIFTY, future hit high at 12,470 while low was at 12,150. Total 320 points intraday range and closed with gain. On futures side -1.48% open interest shed suggest fresh short covering. On option side, 12,500 call option writing has been seen. For tomorrow, banknifty future trailing stop loss is 12,300 for target 12,500 of 12,650.
India VIX current future last closed at 1681 with almost 22 points gain. In intraday NVIX hit high at 1719 while low was at 1634. Total 85 points intraday range and closed with gain. On futures side -1.42% open interest build up cut suggest short covering. For tomorrow, 1650 is support and 1740 is resistance level.
Bharti Airtel Limited stock closed at 293 with loss. In intraday stock hit high at 298 while low was near 292. For tomorrow, traders can buy this stock near 290-292 level with strict stop loss below 286 for target 304 and above.