nifty banknifty NHPC stock prediction for 1 December 2014

nifty banknifty NHPC stock prediction for 1 December 2014

Nifty December expiry future on Friday closed at 8632 with gains of 86 points. On falling crude oil prices, we had seen sharp short covering as expected. Nifty in intraday had given 90 points rally and closed near all time high near 8670. For Monday expect some correction but as momentum is bullish above 8580 traders keep long view for intraday. Option traders can buy 8600 call option on decline but with strict stop loss in place. Any daily closing below 8550 means intermittent correction up to 8400, which is still expected ahead. Disparity in between market and rupee is still there and suggesting correction ahead.

Bank nifty future on Friday closed at 18675 with gains of 533 points. In intraday we had seen 550 points swing for banknifty future and closed near top, which suggest buying strength in market. On open interest side almost 12%, addition suggest strong hand enormous buying in this index future. For long traders 18400 are trailing stop loss while option traders keep accumulating 18500 call options on decline. On upside 18850 and 19100 are two resistances as well as targets for this index.

India vix future has not seen any trading activity on Friday.

For Monday, my intraday pick will be NHPC Limited. On Friday NHPC, stock closed at 20.3 Traders can buy this stock near 20 rupee with stop loss 19.5 for intraday target 21. Stock given bullish breakout, which is expected to trigger short covering as well as buying interest from investors.

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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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