Market forecast 3 April 2014

Market forecast 3 April 2014

Market forecast 3 April 2014

NIFTY April expiry future last closed at 6796 with 41 points gain. In Intraday NIFTY, future made high at 6798 while low was at 6753. Total almost 50 points intraday range and closed gain with another short covering. On futures side, +1.45% open interest build up suggest long addition. On option side, 6700 put options writing was seen which is strong support on downside. For tomorrow, below 6840 keep bearish view on nifty future and expect correction or stay away.

 

BANKNIFTY April expiry future last closed at 12,831 with gain of 172 points. In intraday BANK NIFTY, future hit high at 12,834 while low was at 12,592. Total 250 points intraday range and closed with gain. On futures, side +13.98% open interest build up suggest strong long addition. On option side 13,000 call options writing has been seen which is upcoming breakout level. For tomorrow, traders below 12,900 keep short view for correction.

 

India VIX current future last closed at 3019 with almost 984 points gain. In intraday NVIX hit high at 3019 while low was at 2965. Total 55 points intraday range and closed with gains on buying interest. On futures, side 31,500 open interests had seen. Expect high volatility in index ahead, which is already signaled through VIX.

 

Axis Bank Limited stock closed at 1467 with loss. In intraday stock hit high at 1474 while low was near 1437. For tomorrow, traders can sell this stock near 1475-1480 level with strict stop loss 1510 for targets 1400.

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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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