Free nifty banknifty stocks tips for 18 July 2014
NIFTY July expiry future last closed at 7657 with 15 points gain. In Intraday NIFTY, future made high at 7675 while low was at 7628. Total almost 40 points intraday range and closed gain on follow up buying. On futures side, +1.84% open interest build up shows follow up buying. On option side, 7700 call options writing was seen which is upcoming resistance. For tomorrow, traders trail stop loss 7640 and hold long for target 7710. On upside 7750 is strong resistance and expect sharp supply from market in 7700-7750 zones.
BANKNIFTY July expiry future last closed at 15,293 with loss of 13 points. In intraday BANK NIFTY, future hit high at 15,331 while low was at 15,177. Total 160 points intraday range and closed with loss. On futures, side -5.59% open interest cut shows huge profit booking. On option side 15,500 call options writing has been seen. For tomorrow, traders above 15,250 stay long on bank nifty for target 15,500 and above. However, if slips and sustain below 15,250 then expect downside up to 15,100 to 15,050.
India VIX active future last closed at 1550 with almost 5 points loss. In intraday NVIX hit high at 1558 while low was at 1550. Total 8 points intraday range and closed with loss. On futures, side +66.67% open interest addition seen. For tomorrow, expect technical short covering above 1500.
ITC Limited stock closed at 344 with gain. In intraday stock hit high at 346 while low was near 342. For tomorrow, traders can buy this stock near 340 levels with strict stop loss 334 for targets 352-355.