Nifty Banknifty and stocks forecast 6 January 2014

Nifty Banknifty and stocks forecast 6 January 2014

Nifty Jan. expiry future last closed at 6258 with one points gain. In Intraday NIFTY, future made low at 6201 while high was at 6261. Total almost 60 points intraday range and closed with gains.

On futures side, -8.82% open interest shed suggest last hour sharp short covering. On option side, 6200 put options and 6300 call options both closed in red on fresh writing.

For Monday, traders must keep long view for nifty. Buy near 6200 with strict Stoploss just below 6150 and for big upside target of 6340-6380 again.

Bank Jan. expiry future last closed at 11,302 with gains of 49 points. In intraday BANK NIFTY, future hit high at 11,302 while low was at 11,101. Total 200 points intraday range and closed with gains.

On futures side, +4.86% open interest build up shows fresh long addition. On option side, 11,000 put options closed in red on high volume. 11,500 call options also closed in red on some time value destruction.

For Monday, traders must keep long view for bank nifty future. Buy bank nifty future around 11,200-11,100 zones with Stoploss 10,900 and for target 11,650.

Today Petronet LNG Limited stock closed at 121.7 with gain. In intraday stock hit high at 122 while closed near low of 120. For Monday, traders can buy this stock around 118, zone with Stoploss 114 and for target 126-127 on upsides. If sustain above 114 then expect 135-145 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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