Market forecast for 21 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 21 March 2014.

Market forecast for 21 March 2014

NIFTY March expiry future last closed at 6506 with 45 points loss. In Intraday NIFTY, future made high at 6550 while low was at 6489. Total almost 61 points intraday range and closed loss as fed decision triggered profit booking by investors. On futures side, -3.33% open interest cut clearly shows profit booking by strong hands. On option side, 6500 put options writing was seen which support on downside is for now. Nifty triggered profit booking on event but above 6480 keep long view and if close below 6480 then major correction up to 6300 can be expected in next week.

 

BANKNIFTY March expiry future last closed at 12,080 with loss of 170 points. In intraday BANK NIFTY, future hit high at 12,220 while low was at 12,033. Total 170 points intraday range and closed with loss. On futures side -7.01% open cut shows sharp profit booking pressure. On option side, 12,000 put option writing has been seen. For tomorrow, traders watch 12k for closing above it keep long view and below it expect deeper correction of 300-500 points in next week.

 

India VIX current future last closed at 1748 with almost 4 points loss. In intraday NVIX hit high at 1755 while low was at 1727. Total 28 points intraday range and consolidation. On futures side -5.95% open interest cut was profit booking. For tomorrow, above 1720 keep buy on dips view for target 1800.

 

Wipro Limited stock closed at 552 with gain. In intraday stock hit high at 560 while low was near 546. For tomorrow, traders can buy this stock near 545-548 level with strict stop loss below 538 for target 565 and above.

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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