Market Forecast for 30 Jan 2014

Market Forecast for 30 Jan 2014

NIFTY Jan. expiry future last closed at 6126 with 13 points loss. In Intraday NIFTY, future made low at 6107 while high was at 6176. Total almost 70 points intraday range and closed with loss.

On futures side, -19.53% open interest shed suggest profit-booking continuation. On option side, 6100 put options seen heavy buying suggest expiry below 6100.

Nifty today with gap up opening almost achieved 6200 target but we has seen sharp profit booking in intraday session. For tomorrow, stay short with stop loss of 6180 for target 6040.

 

BANKNIFTY Jan. expiry future last closed at 10,437 with loss of 85 points. In intraday BANK NIFTY, future hit high at 10,660 while low was at 10,395. Total 250 points intraday range and closed with loss.

On futures side, -23.14% open interest cut shows sharp profit booking in market. On option side, strong OI at 10,600 call options suggest expiry below it.

Bank nifty closed below 10,500 so traders now can open swing short for target 9,800 with strict closing basis stop loss above 10,680.

 

Jubilant Foodworks Limited stock closed at 1091 with loss. In intraday stock hit high at 1123 while low was near 1085. For tomorrow, traders can sell this stock around 1100, zone with Stop loss of 1122 and for target 1060 on upsides.

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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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