Market forecast 7 November

Market forecast 7 November

Nifty future outlook 7 Nov 2013

nifty nov expiry future last closed at 6263 with loss of 35 intraday nifty future made high at 6307 while low was at 55 points intraday range and closed in red as expected.

on futures side,3.95% open interest sheds shows fresh shorts are accumulated again.on option side,6200 put option continue to gains on high volume buying while 6400 call option closed in red on high volume writing.

for thursday,6200 is strong support and above it traders expect a short covering rally upto buy near 6240-6230 zone with stoploss at 6198 for target 6320+.

Banknifty future outlook 7 Nov 2013

banknifty nov expiry future last closed at 11387 with loss of 208 intraday banknifty future made high near 11619 while low was at 260 points intraday range and closed with loss as expected.

on futures side,0.39% drop in open interest shows strong shorts added in system.while on option side,11k put option continue to gains on high volume buying while 12k call option tumbled as writers are active there.

for thursday,11100 is strong support and look buy near 11250-11200 zone with stoploss below 11100 for upside bounce back upto 11650+.

Intraday Stocks Tips 7 Nov 2013

for tomorrow my pick will be ITC Limited share. today ITC stock closed at 319 flat intraday ITC stock made high near 322 while low was near 317.for 7th November traders can buy ITC stock around 318 with stoploss at 310 and for target 330+ in intraday.

The Author

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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