Indian stock market forecast, nifty future and options outlook, banknifty futures and options predictions, stock levels, technical analysis and share trading tips for 26 March 2014.
NIFTY March expiry future last closed at 6607 with 7 points gain. In Intraday NIFTY, future made high at 6610 while low was at 6581. Total almost 29 points intraday range and closed gain on follow up buying. On futures side, -8.88% open interest cut shows another short covering. On option side, 6600 call options writing was seen which support on downside is for now. Nifty future now above 6540 remains firm and strategy remain buy on dips fir targets 6640-6680.
BANKNIFTY March expiry future last closed at 12,494 with gain of 39 points. In intraday BANK NIFTY, future hit high at 12,575 while low was at 12,400. Total 175 points intraday range and closed with gain. On futures side -14.97% open interest cut suggest heavy short covering. On option side, 12,500 call option writing has been seen. Banknifty has formed base around 12,200-12,250 levels so above it use correction to buy with ultimate target 12,900 in April series.
India VIX current future last closed at 1692 with almost 18 points gain. In intraday NVIX hit high at 1694 while low was at 1642. Total 52 points intraday range and closed with gain. On futures side -17.79% open interest shed has been seen. For tomorrow, above 1660 keep buy on dips view.
NTPC Limited stock closed at 155 with gain. In intraday stock hit high at 115 while low was near 113. For tomorrow, traders can buy this stock near 113-114 level with strict stop loss below 111 for target 121 and above.