Market outlook 20 November 2013
Nifty future outlook 20 Nov 2013
nifty nov expiry future last closed at 6231 with gains of 14 points.in intraday nifty future made high at 6240 while low was at 6182.total 58 points intraday range and closed with gains as expected.
on futures side,3.54% open interest rise shows strong hands adding long in system.while put option writers shifted from 6100 to 6200.6300 call option closed with gains on buying interest.
for Wednesday 20th November,traders above 6180 keep buy on dips view.on upside 6280 and then 6330 will be remain as target zones.below 6180 if sustain then expect correction and consolidation ahead.
Banknifty future outlook 20 Nov 2013
banknifty nov expiry future last closed at 11233 with gains of 37 points.in intraday banknifty future made high at 11265 while low was at 11145.total 120 points intraday range and closed with gains.
on futures side,2.21% open interest build up shows long still adding positions in market.on option side,11k put option and 11.5k call option both closed in red on high volume action.
for Wednesday,traders keep long view for banknifty above 11050 level only.on upside 11500-11850 will remain as short term targets.closing below 11050 may trigger correction.
Intraday Stocks Tips 20 Nov 2013
for today my pick will be Tata Power Company Limited share.TATAPOWER stock last closed at 79 with flat gains.in intraday TATAPOWER share made high at 79.45 and low was at 78.5.here trader buy near 78 with stoploss 75 and for target 85+.