Indian stock market forecast, nifty future and options outlook, banknifty futures and options predictions, stock levels, technical analysis and share trading tips for 28 March 2014.
NIFTY April expiry future last closed at 6690 with 19 points gain. In Intraday NIFTY, future made high at 6718 while low was at 6660. Total almost 58 points intraday range and closed gain with another short covering. On futures side, +37.6% open interest build up suggest long rollovers. On option side, 6600 put options writing was seen which support on downside is for now. Nifty future now has trailing stop loss at 6660 for targets 6750-6760.
BANKNIFTY April expiry future last closed at 12,716 with gain of 44 points. In intraday BANK NIFTY, future hit high at 12,867 while low was at 12,615. Total 250 points intraday range and closed with gain. On futures side+37.35% open interest build up suggest strong long rollover. On option side, 12,700 call option writing has been seen from hedgers. For tomorrow, banknifty outlook is bullish and 12,650 is trailing stop loss for intraday.
India VIX current future last closed at 2115 with almost 8 points loss. In intraday NVIX hit high at 2138 while low was at 2088. Total 50 points intraday range and profit booking as equities rallies. On futures, side -10.33% open interest cut shows profit booking. For tomorrow, 2080 is support and 2165 is resistance.
Hindalco Industries Limited stock closed at 125.3 with loss. In intraday stock hit high at 126 while low was near 124. For tomorrow, traders can sell this stock near 126-127 level with strict stop loss 129.5 for targets 120-118.