Market predictions 5 February 2014

Market predictions 5 February 2014

Nifty-Banknifty and stock F&O predictions 5 February 2014

NIFTY Feb. expiry future last closed at 6045 with 7 points gain. In Intraday NIFTY, future made low at 5957 while high was at 6048. Total almost 90 points intraday range and closed with gain.

On futures side, +1.22% open interest build up suggest some strong long addition. On option side, 5900 put options heavy writing seen today and now will serve as support on downside.

Nifty future has given technical bounce back as expected. For tomorrow, follow buy on dips view with deep stop loss at 5960 for target 6080.

 

BANKNIFTY Feb. expiry future last closed at 10,276 with gain of 121 points. In intraday BANK NIFTY, future hit high at 10,300 while low was at 9967. Total 350 points intraday range and closed with gain.

On futures side, +0.81% open interest build up long addition. On option side, 10,500 call options writing continues and it will serve as strong resistance for traders.

As expect technical short covering rally is seen and we almost touched 10,300. For tomorrow bank nifty outlook is bullish and buy near 101,150-10,200 zone with strict stop loss below 10,000 for targets 10,450-10,500.

 

NMDC Limited stock closed at 137 with loss. In intraday stock hit high at 143 while low was near 137. For tomorrow, traders can buy this stock around 136, zone with Stop loss of 132 and for target 144 on upsides.

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