Nifty Banknifty and stocks tips, levels and forecast for 20 February 2014
NIFTY Feb. expiry future last closed at 6166 with 28 points gain. In Intraday NIFTY, future made low at 6129 while high was at 6167. Total almost 40 points intraday range and closed with gain.
On futures side, +0.05% open interest build up suggest long addition. On option side, 6100 put options heavy writing seen today. This is now serving as support on F&O side.
As expected nifty future heading towards 6280 for expiry. Traders above 6100 follow buy on dips view with strict stop loss below 6100.
BANKNIFTY Feb. expiry future last closed at 10,635 with gain of 63 points. In intraday BANK NIFTY, future hit high at 10,644 while low was at 10,514. Total 150 points intraday range and closed with gain.
On futures side, -3.31% open interest cut suggests short covering still going in market. On option side, 10,700 call option writing seen so it will be next major resistance on closing basis.
As expected after breakout Banknifty is now heading towards 11,000 levels. Traders above 10,400 keep buy on dips view for target 10,780 to 11,000 on upside.
Coal India Limited stock closed at 254 with loss. In intraday stock hit high at 257 while low was near 253. For tomorrow, traders can buy this stock around 250-252, zone with Stop loss of 244 and for target 265 on upsides.