Market forecast 27 March 2014

Indian stock market forecast, nifty future and options outlook, banknifty futures and options predictions, stock levels, technical analysis and share trading tips for 27 March 2014.

Market forecast 27 March 2014

NIFTY March expiry future last closed at 6615 with 10 points gain. In Intraday NIFTY, future made high at 6641 while low was at 6588. Total almost 53 points intraday range and closed gain on follow up buying. On futures side, -17.60% open interest cut shows another short squeeze. On option side, 6600 put options writing was seen which support on downside is for now. Nifty future achieved 6640 target now on upside 6640-6680 is major supply point below it expect correction and consolidation. Next major will happen above it for target 6900.

 

BANKNIFTY March expiry future last closed at 12,551 with gain of 65 points. In intraday BANK NIFTY, future hit high at 12,611 while low was at 12,501. Total 110 points intraday range and closed with gain. On futures side -10.76% open interest cut shows another short squeeze. On option side 12,500 put option writing has been seen. For tomorrow, banknifty future has resistance at 12,740.

 

India VIX current future last closed at 2140 with almost 102 points gain. In intraday NVIX hit high at 2150 while low was at 2035. Total 115 points intraday range and fresh longs. On futures side -11.68% open interest cut shows sharp short covering by hedgers. For tomorrow, 2100 is support and 2190 will be resistance.

 

ICICI Bank Limited stock closed at 1255 with gain. In intraday stock hit high at 1268 while low was near 1251. For tomorrow, traders can sell this stock near 1260-1270 levels, with strict stop loss above 1290 for target 1220-1200.

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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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