Market forecast for 12 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 12 March 2014.Market forecast for 12 March 2014NIFTY March expiry future last closed at 6551 with 17 points loss. In Intraday NIFTY, future made high at 6590 while low was at 6522. Total almost 68 points intraday range and closed loss. On futures side, +2.13% open interest build up suggest short addition. On option side, 6600 call options writing continues. Below 6600, nifty may continue to correct and consolidate. Fresh buying suggested above 6600 only. Deep correction may show 6480 to 6400 levels on downside. BANKNIFTY March expiry future last closed at 12,135 with loss of 17 points. In intraday BANK NIFTY, future hit high at 12,335 while low was at 12,046. Total 300 points intraday range and closed with loss. On futures side -2.39% open interest cut suggest profit booking. On option side, 12,500-call option writing continues. For tomorrow, banknifty below 12,500 will continue to face supply from market and go through correction and consolidation. India VIX current future last closed at 1733 with almost 14 points loss. In intraday NVIX hit high at 1762 while low was at 1718. Total 44 points intraday range and profit booking. On futures side+5.66% open interest build up suggest long addition by hedgers. For tomorrow, 1715 is support for target 1800. Ranbaxy Laboratories Limited stock closed at 364 with loss. In intraday stock hit high at 371 while low was near 361. For tomorrow, traders can buy this stock near 355-358 level with strict stop loss below 348 for target 385 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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