Nifty Banknifty Stock Tips for 28 November 2013
Nifty future outlook 28 Nov. 2013
Nifty Nov. expiry future last closed at 6073 with 1 point gain. In Intraday NIFTY future made low at 6038 while high was at 6087. Total almost 50 points intraday range and closed above 6050 level.
On futures side, –15.62% drop in open interest shows profit booking still going on in market. Option data shows NIFTY 6000 put option and NIFTY 6100 call option traded on high volumes and both closed in red.
For tomorrow,on NIFTY future expiry day expect high volatility but above 6050 levels maintain long view. on last day expect trapped shorts covering and higher levels upto 6150.
Bank nifty future outlook 28 Nov. 2013
Bank nifty Nov. expiry future last closed at 10,931 with gains of 4 points. in intraday BANK NIFTY future hit high at 11,044 while low was at 10,841. Total 200 points intraday range and closed above 10,880.
On futures side, –17.42% open interest cut shows profit booking as well as rollover. on option side, BANK NIFTY 10,800 put option and BANK NIFTY 11,000 call option traded with high volumes and both closed in red.
For tomorrow, on Thursday keep long view for upside targets upto 11200 and above. High volatility is expect and may show both side wide moves.
Intraday Stocks Tips 28 Nov. 2013
For today, my pick will be Housing Development Finance Corporation Limited share. Today HDFC stock closed at 807 with flat loss. In Intraday stock hit low at 795 while high was at 812 and closed near high. for tomorrow traders can buy HDFC stock around 800-805 zone with stoploss 790 and expect target 830-835 on upside.