Free Stock market tips for 23 may 2014
NIFTY May expiry future last closed at 7292 with 13 points gain. In Intraday NIFTY, future made high at 7337 while low was at 7278. Total almost 65 points intraday range and closed with gains on some buying. On futures side, -4.43% open interest cut shows short covering. On option side, 7400 call options writing was seen which is upcoming resistance. For tomorrow traders above below 7350 keep sell on rise view for downside targets 7200 to 7100.
BANKNIFTY May expiry future last closed at 15,102 with gain of 66 points. In intraday BANK NIFTY, future hit high at 15,280 while low was at 15,006. Total 275 points intraday range and closed with gain. On futures, side +2.06% open interest build up suggest long addition. On option side 15,500 call options writing has been seen. For tomorrow, traders below 15,550 follow sell on rise view with strict stop loss in place, for downside targets.
India VIX active future last closed at 1786 with almost 8 points loss. In intraday NVIX hit high at 1786 while low was at 1768. Total 18 points intraday range and closed with loss. On futures, side -2.63% open interest cut suggests long positions winding up. For tomorrow, keep buy and accumulate view with strict stop loss as per your risk.
Punjab National Bank stock closed at 984 with loss. In intraday stock hit high at 1008 while low was near 981. For tomorrow, traders can sell this stock near 1000 levels with strict stop loss 1025 for targets 950.