Nifty banknifty and stock Tips 29 October
Nifty future outlook 29 oct 2013
nifty oct expiry future last closed at 6107 with loss of 45 points.in intraday nifty future made high at 6181 while low was at 6097.total 84 points intraday range and achieved 6100 target.
on futures side,-12.36% cut in open interest shows strong short positions + heavy profit booking from market.while on option side,6100 put option closed in green on account of buying interest while 6200 call option closed in red as high volume writing seen there.
for Tuesday,stay short in nifty future with trailing stoploss at 6140 and expect downside target at 6000-5980 in intraday.
Banknifty future outlook 29 oct 2013
banknifty oct expiry future last closed at 10779 with loss of 129 points.in intraday banknifty future made high at 11018 while low was at 10756.total 250 points intraday range and closed in red on heavy profit booking.
on futures side,-15.19% cut in open interest shows heavy profit booking as well as fresh shorts by strong hands.on option side,11k call option closed in red on heavy writing while 10500 put option gained on high volume buying.
for tomorrow,with trailing stoploss at 10900 keep short view for target 10600 and then 10450 on downside.expect high volatility and very difficult trading entry/exit.
Intraday Stocks Tips 29 oct 2013
for tomorrow my pick will be Dr. Reddy’s Laboratories Limited share. today DRREDDY share closed at 2402 flat.intraday high was at 2428 while low was at 2389.for tomorrow buy near 2380-2390 zone with stoploss of 2355 and for target 2480-2520 in intraday.