Market forecast 8th November

Market forecast 8th November

Nifty future outlook 8 Nov 2013

nifty nov expiry future last closed at 6226 with loss of 33 intraday nifty future made high at 6338 while low was at 117 points intraday range and closed in red as panic profit booking triggers in market.6320 target also get achieved in intraday.

on futures side,3.47% drop in open interest shows sharp selling in late session by strong hands.on option side,6200 put option continue to gain while 6400 call option writing continues.

for tomorrow expect some downside but keep buy on dips view with stoploss.on upside 6300 once again can be expected.

Banknifty future outlook 8 Nov 2013

banknifty nov expiry future last closed at 11129 with loss of 248 intraday banknifty future made high at 11496 while low was at 11120.almost 400 points intraday range and closed with loss on sharp profit booking.

on futures side,0.78% open interest build up shows fresh shorts added in system.while on option side,11k put option continue to gains on high volume buying.while 12k call option closed in red as writers taking heavy action there.

for tomorrow,below 11300 keep bearish view but watch 10800 support zone if sustain there then must buy with medium term time horizon.

Intraday Stocks Tips 8 Nov 2013

for tomorrow my pick will be Bank of Baroda BANKBARODA stock closed at 603.5 with loss of intraday made high at 644 while low was at traders must buy near 595-598 zone with stoploss of 585 and for upside target 630+ 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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