Nifty Banknifty and stocks forecast 8 January 2014

Nifty Banknifty and stocks forecast 8 January 2014

Nifty Jan. expiry future last closed at 6196 with 34 points loss. In Intraday NIFTY, future made low at 6172 while high was at 6260. Total almost 78 points intraday range and closed with loss.

On futures side, -0.27% open interest build sheds shows profit booking. On option side, 6200 put options closed with gains on short covering while 6300 call options closed in red on fresh writing.

For tomorrow, traders must keep long view for nifty. Keep 6150 as strict Stoploss and still expect 6280-6325 as positional target here.

Bank Jan. expiry future last closed at 11,100 with loss of 19 points. In intraday BANK NIFTY, future hit high at 11,220 while low was at 10,937. Total 300 points intraday range and closed with loss.

On futures side, -0.95% open interest shed shows profit booking. On option side, 11,000 put options closed in green on short covering while 11,500-call option continues its downtrend, as writers are active there.

For tomorrow, traders must keep long view for bank nifty future. Keep strict Stoploss at 10,880 and expect higher target of 11,400-11,650.

Today Divi’s Laboratories Limited stock closed at 1231 with loss. In intraday stock hit high at 1260 while closed near low of 1226. For tomorrow, traders can buy this stock around 1220, zone with Stoploss 1198 and for target 1265 on upsides. If sustain above 1200 then expect 1340 as target zone for this stock in short terms.

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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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