free nifty bank nifty tips 2 May 2014
NIFTY May expiry future last closed at 6740 with 20 points loss. In Intraday NIFTY, future made high at 6829 while low was at 6692. Total almost 140 points intraday range and closed loss on sharp profit booking in later half session. On futures side, +0.41% open interest build up suggest fresh short addition. On option side, 7000 call options writing was seen which is now resistance. Tomorrow market will remain closed on event of Maharashtra day. On 2 May nifty may continue to remain under pressure so below 6840 now follow sell on rise view for targets 6650-6600.
BANKNIFTY May expiry future last closed at 12,975 with loss of 38 points. In intraday BANK NIFTY, future hit high at 13,215 while low was at 12,822. Total 400 points intraday range and closed with loss. On futures, side -0.36% open interest shed suggest profit booking. On option side 14,000 call options writing has been seen which is strong resistance on upside. Traders below 13,200 keep short view and expect this correction wave to continue up to 12,500 to 12,300.
India VIX active future last closed at 3113 with almost 123 points loss. In intraday NVIX hit high at 3220 while low was at 3100. Total 120 points intraday range and closed with loss. On futures, side +7.14% open interest build up shows fresh short additions. Traders here keep short view with strict stop loss above 3155 for target 3050-3020.
NMDC Limited stock closed at 150.5 with gain. In intraday stock hit high at 152 while low was near 148. For second may, traders can sell this stock near 152 levels with strict stop loss 155 for targets 146.