Nifty future outlook 5 Nov 2013
nifty nov expiry future last closed at 6350 with loss 9 points.in intraday nifty future made high at 6383 and low was at 6348.total 35 points intraday range and closed in red as expected.on upside 6380 also achieved.
on futures side,0.5% open interest shows long accumulation buy weak hands.on option side,6300 put option closed in gains on high volume trading.while 6400 call option closed in red on profit booking.
on monday market remain closed on account of Diwali (Balipratipada).so for Tuesday expect correction to continue but stay away from shorts.here may show 6280-6300 levels in intraday.if sustain there then only think of entering long.
Banknifty future outlook 5 Nov 2013
banknifty nov expiry future last closed at 11667 with loss of 64 points.in intraday banknifty future made high at 11773 while low was at 11656.total 120 points intraday range and closed in red as expected.
on futures side,-1.02% cut in open interest shows fresh shorts?.on options side,11k put option closed in green on high volume while 12k call option closed in red on writing.
for Tuesday,below 11700 keep bearish view and expect downside target of 11500 and below.
Intraday Stocks Tips 5 Nov 2013
for tomorrow my pick will be Reliance Industries Limited share.on muhurat trading closed at 907.7 with loss.intraday high was at 914.4 while low was at 906.8.here sell near 910-912 zone with stoploss 924 and for target 880 and below.for intraday traders can buy 900 put option with stoploss.