Market Forecast 28 February 2014

Indian stock market forecast, nifty future and options outlook, banknifty futures and options predictions, stock levels, technical analysis and share trading tips for 28 February 2014.

Market Forecast 28 February 2014

NIFTY March expiry future last closed at 6271 with 28 points gain. In Intraday NIFTY, future made low at 6240 while high was at 6277. Total almost 37 points intraday range and closed with gain as expected.

On futures side, +49.15% open interest build shows positive roll over. On option side, 6200 put option heavy writing seen today.

Nifty future almost touched 6280 today and for Friday, it will be strong supply zone. If sustain above it then only buy for target 6340 but below it may show correction up to 6200. On Thursday, market remains closed on event of Mahashivratri.

 

BANKNIFTY March expiry future last closed at 10,774 with gain of 38 points. In intraday BANK NIFTY, future hit high at 10,807 while low was at 10,723. Total 77 points intraday range and closed with gain.

On futures side, +38.26% open interest build up long rollover. On option side, 11,000 call option writing seen.

For Friday, 11k will be strong supply zone and any major will happen only above it if BANKNIFTY future gives closing above it. Below it correction and consolidation is expected.

 

Tata Consultancy Services Limited stock closed at 2184 with loss. In intraday stock hit high at 2195 while low was near 2177. For Friday, traders can buy this stock around 2170, zone with Stop loss of 2150 and for target 2240.

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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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