Indian stock market forecast, nifty future and options outlook, banknifty futures and options predictions, stock levels, technical analysis and share trading tips for 14 March 2014.
NIFTY March expiry future last closed at 6520 with 29 points loss. In Intraday NIFTY, future made high at 6588 while low was at 6503. Total almost 85 points intraday range and closed with loss as last hour profit booking hammers the market. On futures side, +4.24% open interest build up suggest short addition. On option side, 6500 call options writing was seen which suggest downside ahead. Nifty future tried to cross 6600 but we seen sharp supply from market. Below 6600 now, keep sell on rise view for target 6480-6450. Nifty may trade in range 6450-6650 in upcoming time.
BANKNIFTY March expiry future last closed at 12,190 with gain of 100 points. In intraday BANK NIFTY, future hit high at 12,380 while low was at 12,115. Total 350 points intraday range and closed with gain. On futures side+1.3% open interest build up suggest heavy long addition today. On option side, 12,500-call option writing has been seen. For tomorrow, banknifty outlook is bullish and 12,100 is trailing stop loss for all long traders.
India VIX current future last closed at 1727 with almost 8 points loss. In intraday NVIX hit high at 1740 while low was at 1711. Total 39 points intraday range and profit booking as equities rallies. On futures side – 9.56% open interest build cut suggest profit booking. For tomorrow, 1700 is support for VIX future.
Oil & Natural Gas Corporation Limited stock closed at 325 with gain. In intraday stock hit high at 327 while low was near 316. For tomorrow, traders can sell this stock near 327-330 level with strict stop loss 336 for target 315 and below.