stock market outlook for 30 April 2014

stock market outlook for 30 April 2014
stock market outlook for 30 April 2014

 

NIFTY May expiry future last closed at 6764 with 56 points loss. In Intraday NIFTY, future made high at 6822 while low was at 6742. Total almost 80 points intraday range and closed loss on profit booking. On futures side, -6.29% open interest cut suggest strong profit booking. On option side, 700 call options writing was seen which is now resistance. For tomorrow, traders keep long view on nifty future and buy it near 6750-6740 with stop loss 6700 for target 6840.

 

BANKNIFTY May expiry future last closed at 13,017 with loss of 179 points. In intraday BANK NIFTY, future hit high at 13,249 while low was at 12,970. Total 280 points intraday range and closed with loss. On futures, side +3.96% open build up shows fresh short addition. On option side 14,000 call options writing has been seen which is strong resistance on upside. For tomorrow, traders keep long view for banknifty future and buy around 12,900-12,950 zones with stop loss below 12,800 for target 13,200.

 

India VIX active future last closed at 3249 with almost 89 points loss. In intraday NVIX hit high at 3365 while low was at 3226. Total 150 points intraday range and closed with loss. On futures, side +7.69% open interest build up shows fresh short additions. For tomorrow, traders can buy VIX future near 3200 with stop loss 3160 for target 3280.

 

IDFC Limited stock closed at 114 with loss. In intraday stock hit high at 116 while low was near 113. For tomorrow, traders can buy this stock near 112-113 level with strict stop loss 108 for targets 121.

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Pramod Baviskar

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