Market forecast for 31 January 2014

Market forecast for 31 January 2014

Nifty Bank nifty and stocks premarket forecast for 31 January 2014

NIFTY Feb. expiry future last closed at 6109 with 46 points loss. In Intraday NIFTY, future made low at 6062 while high was at 6113. Total almost 51 points intraday range and closed with loss.

On futures side, +12.32% open interest build up suggest short rollover. On option side, 6100 call option heavy writing seen today.

My given target of 6050 achieved and we seen lower below it for nifty Jan future. For tomorrow, buy nifty Feb. expiry future around 6080 zone with strict stop loss below 6040 for target 6200.

 

BANKNIFTY Feb. expiry future last closed at 10,243 with loss of 245 points. In intraday BANK NIFTY, future hit high at 10,375 while low was at 10,160. Total 200 points intraday range and closed with loss.

On futures side, +61.37% open interest build up shows strong short positions rollover. On option side, 10,100 put option writing seen so it will act as support for now.

As I already told below 10,500 BANKNIFTY is heading towards 9,800 level and we seen 400 points drop in single session. For tomorrow watch 10,100 level if sustain then buy bank nifty future for technical bounce back target 10,350 with stop loss 9,900.

 

Punjab National Bank stock closed at 517 with loss. In intraday stock hit high at 532 while low was near 515. For tomorrow, traders can buy this stock around 510-515, zone with Stop loss of 498 and for target 535 on upsides.

Read More :

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.
COPYRIGHT © 2017. Pramod Baviskar. Dalal street winners advisory and coaching services. FAQ | Disclaimer | Privacy Policy       

This website is best viewed using Microsoft Internet Explorer 9 or higher, and/or latest version of Google Chrome and Mozila Firefox browsers.