Market report 1 November
Nifty future outlook 1 Nov 2013
nifty nov expiry future last closed at 6332 with gains of 33 points.in intraday nifty future made high at 6341 while low was at 6281.total 60 points intraday rally and closed with gains as expected.here 6325 target achieved now next will be 6380-6440 zone.
on futures side,22.16% open interest build up suggests strong hand have confidence in rally and they are accumulating in market.6200 put option writing continues and closed in red on account of that.while 6300 call option accumulation continues and closed with gains on high volume.
for friday,here keep buy on dips view and buy near 6300 levels only with stoploss below 6250 and expect upside target of 6380 and then 6440.
Banknifty future outlook 1 Nov 2013
banknifty nov expiry future last closed at 11560 with gains of 232 points.in intraday banknifty future made high at 11570 while low was 11245.total 325 points intraday range and closed with gains as expected.
on futures side,39.63% open interest build up suggest strong hand rolled there long and have confidence in market.on option side,11k put option closed in red on high volume writing while 12k call option now active with high volume buying.
for tomorrow,banknifty future will continue its uptrend on short coverings.buy near 11400 with stoploss at 11200 and for target 11850-12k.
Intraday Stocks Tips 1 Nov 2013
for tomorrow my pick will be Lupin Limited share. today LUPIN share closed at 886.95 with loss of 1.68%.in intraday made high at 907.85 while low was at 885.here buy near 880 with stoploss of 865 and expect intraday target at 920+.