Indian stock market outlook, nifty future and options forecast, banknifty futures and options predictions, stock levels, technical analysis and share trading tips for 25 February 2014,
NIFTY Feb. expiry future last closed at 6197 with 33 points gain. In Intraday NIFTY, future made low at 6142 while high was at 6199. Total almost 57 points intraday range and closed with gain.
On futures side, -11.41% open interest shed suggesting sharp short covering and tapped shorts exit. On option side, 6200 call option short covering was seen today suggesting fresh level breakout.
As expect nifty futures gained on follow up buying and heading towards targets. For tomorrow traders can buy nifty future on decline with strict stop loss below 6140 for target 6240 and then possibly 6280.
BANKNIFTY Feb. expiry future last closed at 10,700 with gain of 133 points. In intraday BANK NIFTY, future hit high at 10,729 while low was at 10,477. Total 250 points intraday range and closed with gain.
On futures side, -5.84% open interest cut suggest short covering from trapped traders. On option side, 10,700 call option short covering also seen.
Banknifty future as expected is heading towards 11k-11.5k targets. Traders stay long with trailing stop loss below 10,550 for target 10,950-11k.
Tata Motors Limited stock closed at 396 with gain. In intraday stock hit high at 401 while low was near 394. For tomorrow, traders can buy this stock around 390392, zone with Stop loss of 382 and for target 410-414 on upsides.