Market Forecast 30 October 2013
Nifty future outlook 30 oct 2013
nifty oct expiry future last closed at 6231 with gains of 126 points.today nifty future made low at 6080 while high was at6237.total almost 160 points intraday rally from bottom on account of sentiment change and sharp short covering.
on futures side,-9.23% open interest shed shows sharp short covering with some buying.on option side,6100 put option closed in red on high volume writing.while 6200 call option closed in green on heavy buying as well as sharp short covering.
for Wednesday,nifty future outlook remain bullish.but traders only buy near 6160-6180 zone with stoploss at 6100 and expect target 6325+ on upside.
Banknifty future outlook 30 oct 2013
banknifty oct expiry future last closed at 11265 with gains of 290 points.in intraday banknifty future made high at 11270 while low was at 10621.total 700 points intraday rally from bottom and closed with gains on account of sharp short covering and bullish breakout.
on futures side,2.91% open interest build shoes strong hands buying on technical breakout.on option side,10500 put option closed in red on high volume writing while 11k call option gains on high volume accumulation.
for tomorrow,banknifty future trend and momentum strong bullish.strategy remain buy on dips.so buy near 10980-11k zone with stoploss below 10800 for positional target 11500-11850 on upside.
Intraday Stocks Tips 30 oct 2013
for tomorrow my pick will be NMDC Limited share. today NMDC stock closed at 135.2 with flat gains.in intraday NMDC stock made low at 134.25 while high was at 136.75.for tomorrow buy near 134 with stoploss at 131 and expect 142+ as upside target in intraday.