Nifty banknifty CAIRN stock forecast 10 oct 2014

Nifty banknifty CAIRN stock forecast 10 oct 2014

NIFTY Oct. expiry future last closed at 7984 with 89 points gain. In Intraday NIFTY, future made high at 8008 while low was at 7922. Total almost 86 points intraday range and closed with gain. On futures side, +0.59% open interest build up suggest strong long addition. On option side, 8000 call options writing was seen which is resistance. For tomorrow, traders watch 7995 spot level if nifty sustain above it then expect strong bull run ahead in oct series below it strategy must remain sell on rise.

BANKNIFTY Oct. expiry future last closed at 15,805 with gain of 353 points. In intraday BANK NIFTY, future hit high at 15,869 while low was at 15,480. Total 500 points intraday range and closed with gain. On futures, side +0.96% open interest build up suggest strong long addition. On option side 16,000 call options writing has been seen. For tomorrow, above 15,500 keep buy on dips view for target 16k to 16200.

India VIX active future has not seen any trading action.

Cairn India Limited stock closed at 297 with gain. In intraday stock hit high at 299 while low was near 293. For tomorrow, buy cairn share around 295 with stop loss 290 for target 305.

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Pramod Baviskar

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