Market levels for 21 May 2014
NIFTY May expiry future last closed at 7290 with 10 points gain. In Intraday NIFTY, future made high at 7348 while low was at 7267. Total almost 85 points intraday range and closed with gains on some buying. On futures side, -1.3% open interest cut suggest profit booking. On option side, 7400 call options writing was seen which is upcoming resistance. As suggest my target of 7350 is almost achieved in opening. Here now traders as well investors keep cautious stance and trade with strict in place stop loss. For tomorrow, keep long view above 7270 for target 7350 with stop loss 7250.
BANKNIFTY May expiry future last closed at 15,196 with loss of 97 points. In intraday BANK NIFTY, future hit high at 15,444 while low was at 15,171. Total 250 points intraday range and closed with loss. On futures, side +6.33% open interest build up suggest fresh short addition. On option side 15,500 call options writing has been seen. Here also we saw bank nifty tried to catch 15,500 levels. For tomorrow, traders above 15k keep long view for target 15,400-15,550.
India VIX active future last closed at 1922 with almost 88 points loss. In intraday NVIX hit high at 2010 while low was at 1917. Total 90 points intraday range and closed with loss. On futures, side +8.05% open interest addition seen. For tomorrow below 1955, keep sell on rise view.
Tata Power Company Limited stock closed at 97.2 with loss. In intraday stock hit high at 101 while low was near 96. For tomorrow, traders can sell this stock near 100 levels with strict stop loss 105 for targets 90.