Market forecast for 11 March 2014

Indian stock market forecast, nifty future and options outlook, banknifty futures and options predictions, stock levels, technical analysis and share trading tips for 11 March 2014.
Market forecast for 11 March 2014
NIFTY March expiry future last closed at 6566 with 17 points gain. In Intraday NIFTY, future made high at 6595 while low was at 6520. Total almost 75 points intraday range and closed gain on follow up buying. On futures side, +0.33% open interest build up suggest long accumulation. On option side, 6600 call options writing was seen will be next strong resistance zone. Nifty future is strong bullish but heavily overbought so keep trailing stop loss at 6520 for now and upside target of 6640. Daily closing below 6520 may trigger correction.
BANKNIFTY March expiry future last closed at 12,156 with gain of 225 points. In intraday BANK NIFTY, future hit high at 12,200 while low was at 11,821. Total 400 points intraday range and closed with gain. On futures side+8.07% open interest build up suggest heavy long addition with strong follow up buying. On option side, 12,500-call option writing has been seen. For tomorrow, banknifty outlook is bullish but highly overbought. Trapped traders may continue to boost the market but keep trailing stop loss at 12k to cap the profit.
India VIX current future last closed at 1745 with almost 121 points gain. In intraday NVIX hit high at 1765 while low was at 1625. Total 150 points intraday range and strong long addition from hedgers. On futures side+25.44% open interest build up suggest long addition by hedgers. For tomorrow, 17k will be trailing stop loss.
Sun Pharmaceuticals Industries Limited stock closed at 593 with loss. In intraday stock hit high at 612 while low was near 592. For tomorrow, traders can buy this stock near 586-590 level with strict stop loss below 575 for target 615 and above.

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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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