Market outlook 6 February 2014

Market outlook 6 February 2014

Nifty, Banknifty and stocks outlook 6 February 2014

NIFTY Feb. expiry future last closed at 6044 with 7 points gain. In Intraday NIFTY, future made low at 5982 while high was at 6055. Total almost 73 points intraday range and closed with gain.

On futures side, +0.84% open interest build up suggest long addition. On option side, 6100 call option heavy writing seen today.

As expected nifty future given bounce back, almost hit my given target. For tomorrow same view, 6000-6020 is entry zone with strict stop loss below 5960 for target 6080-6100.

 

BANKNIFTY Feb. expiry future last closed at 10,265 with gain of 10 points. In intraday BANK NIFTY, future hit high at 10,297 while low was at 10,141. Total 160 points intraday range and closed with gain.

On futures side, +0.68% open interest build up shows long addition. On option side, 10,000 put option writing seen so it will act as support for now.

Small bounce back is seen today. For tomorrow, same view buy near 10,150-10,200 zone with strict stop loss below 10,000 for target 10,450+.

 

ACC Limited stock closed at 1001 with loss. In intraday stock hit high at 1012 while low was near 990. For tomorrow, traders can buy this stock around 990-995, zone with Stop loss of 970 and for target 1035 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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