Market predictions 12 February 2014

Market predictions 12 February 2014

NIFTY Feb. expiry future last closed at 6077 with 13 points gain. In Intraday NIFTY, future made low at 6066 while high was at 6095. Total almost 30 points intraday range and closed with gain.

On futures side, +3.11% open interest build up suggest long addition. On option side, 6000 put option heavy writing suggest it is as support zone.

As expected, we seen retracement from high and closed near low. For tomorrow, nifty outlook still bearish and below 6120 keep short view and expect downside targets.

 

BANKNIFTY Feb. expiry future last closed at 10,264 with gain of 44 points. In intraday BANK NIFTY, future hit high at 10,325 while low was at 10,215. Total 125 points intraday range and closed with gain.

On futures side, -0.08% open interest drop is due to short covering. On option side, 10,000 put option writing seen so it will act as support for now.

Hit high but closed near low and for tomorrow same is expected. Banknifty future below 10,350 on closing basis keep short view and expect downside targets.

 

Sun Pharmaceuticals Industries Limited stock closed at 610 with loss. In intraday stock hit high at 625 while low was near 607. For tomorrow, traders can sell this stock around 615-618, zone with Stop loss of 630 and for target 580 on downside.

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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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