Market forecast for 4 oct 2013
Nifty future outlook 4 oct 2013
nifty oct expiry future last closed at 5966 with gains of 137 points.today nifty future opened at 5860 made low near 5846 and closed near high of 5996.total 150 points rally and achieved all given targets.
on future side,6%+ open interest build up suggest strong long build up and trapped shorts trying to exits.while on option side,5700 put option closed in red on heavy writing while 6100 call option closed in green on buying on large volume.
for tomorrow,expect some correction and consolidation but buy near 5900-5920 zone with stoploss below 5860 and expect target 6040 and above in intraday.
Banknifty future outlook 4 oct 2013
banknifty oct expiry future last closed at 10305 with gains of 345 points.today banknifty future opened at 10056 made low at 9958 while closed near high of 10338.total almost 400 points rally and achieved all given targets.
on futures side,banknifty 5.5% open interest build up suggest fresh longs.while on option side,9500 put option closed in red on fresh shorts while 11000 call option closed in green on long accumulation.
for tomorrow,expect some correction and consolidation but buy near 10200 with stoploss below 10100 and expect target 10400-10450 in intraday.
Intraday Stocks outlook 4 oct 2013
for tomorrow my pick will be ITC Limited share.today ITC stock closed at 339 with loss of 1.15%.today made high near 346 while low was near 336.here now trading near major support and expect after touching support we may see sharp buying interest.so buy near 335-337 zone with stoploss below 328 and expect target 350 in intraday while 365 positional with same stoploss.