Nifty Banknifty and stocks forecast 2 January 2014

Nifty Banknifty and stocks forecast 2 January 2014

Nifty Jan. expiry future last closed at 6361 with 6 points gain. In Intraday NIFTY, future made low at 6345 while high was at 6370. Total almost 25 points intraday range and closed with gains.

On futures side, +0.34% open interest build up suggest long positions addition. On option side, 6300 put options closed in red and 6400 call options both closed in green with some buying.

For tomorrow, traders must keep long view for nifty. Buy near 6320-6330 zones with Stoploss below 6280 and expect 6425 as major target zone.

Bank Jan. expiry future last closed at 11,529 with gains of 50 points. In intraday BANK NIFTY, future hit high at 11,535 while low was at 11,447. Total 100 points intraday range and closed with gains.

On futures side, +4.58% open interest build up shows long addition. On option side, 11,000 put options closed in red on high volume. 12,000 call options closed in green on short covering.

For tomorrow, traders must keep long view for bank nifty future. Buy bank nifty future around 11,400 zones with Stoploss 11,300 and for target 11,650.

Today Mahindra & Mahindra Financial Services Limited stock closed at 320 with loss. In intraday stock hit high at 326 while closed near low of 319. For tomorrow, traders can buy this stock around 317-318, zone with Stoploss 310 and for target 340-345 on upsides. If sustain above 300 then expect 380-410 as target zone for this stock in Jan. Series.

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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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