Market forecast 9 April 2014

Market forecast 9 April 2014

Market forecast 9 April 2014

NIFTY April expiry future last closed at 6737 with 8 points loss. In Intraday NIFTY, future made high at 6769 while low was at 6696. Total almost 73 points intraday range and closed loss as profit booking continues. On futures side, +2.22% open interest build up suggest long addition. On option side, 6700 put options writing was seen which is strong support and investors protecting it by hedging. Traders here below 6840 keep short view and follow sell on rise view.

 

BANKNIFTY April expiry future last closed at 12,598 with loss of 62 points. In intraday BANK NIFTY, future hit high at 12,724 while low was at 12,524. Total 200 points intraday range and closed with loss. On futures, sides +1.95% open interest build up suggest strong short addition. On option side 13,000 call options writing has been seen from hedgers. Below 13k strong resistance level keep sell on rise view for stay away.

 

India VIX current future last closed at 2495 with almost 56 points gain. In intraday NVIX hit high at 2527 while low was at 2425. Total 100 points intraday range and closed with gains on buying interest. On futures, side -31.01% open interest cut shows short covering. VIX is heading towards 2800 level and now 2300 will be strong short to medium term base.

 

Hindalco Industries Limited stock closed at 137.6 with loss. In intraday stock hit high at 139 while low was near 134. For intraday, traders can sell this stock near 139-140 level with strict stop loss 143 for targets 131-130.

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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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