Free nifty banknifty stocks tips for 5 aug 2014
NIFTY Aug. expiry future last closed at 7724 with 102 points gain. In Intraday NIFTY, future made high at 7726 while low was at 7646. Total almost 80 points intraday range and closed with gain on value buying as well as short covering. On futures side, +2.21% open interest build up suggest strong long addition. On option side, 7600 put options writing was seen which is support on downside. As expected technical bounce back is seen today. For tomorrow, traders can expect extension on follow up buying and stay long in market with stop loss below 7680 for target 7810. Option traders keep long in the money call options with trailing stop loss.
BANKNIFTY Aug. expiry future last closed at 15,337 with gain of 126 points. In intraday BANK NIFTY, future hit high at 15,410 while low was at 15,185. Total 220 points intraday range and closed with gain. On futures, side -1.68% open interest cut shows short covering. On option side 16,000 call options writing has been seen. For tomorrow, traders above 15,100 keep buy on deeps for target 15,550 and then 15,850. Option traders keep accumulating in 15,000 call options on decline for big upside in Aug series.
India VIX active future last closed at 1475 with almost 50 points loss. In intraday NVIX hit high at 1529 while low was at 1475. Total 51 points intraday range and closed with loss. On futures, side 11,550 open interest addition seen. For tomorrow, watch 1400 major long-term support.
Ambuja Cements Limited stock closed at 204 with gain. In intraday stock hit high at 205 while low was near 202. For tomorrow, traders can buy this stock near 200-202 levels with strict stop loss 196 for targets 215.