NIFTY Feb. expiry future last closed at 6060 with 15 points loss. In Intraday NIFTY, future made low at 6054 while high was at 6107. Total almost 50 points intraday range and closed with loss.
On futures side, +0.27% open interest build up suggest some short addition. On option side, 6100 call option heavy writing seen today.
For tomorrow, below 6120 keep short view for nifty future as it showing signs of fatigue and profit booking. On downside, 6000-5980 is first target zone.
BANKNIFTY Feb. expiry future last closed at 10,203 with loss of 79 points. In intraday BANK NIFTY, future hit high at 10,334 while low was at 10,195. Total 150 points intraday range and closed with loss.
On futures side, -0.51% open interest build up shed suggest profit booking. On option side, 10,500 call-options writing continue.
For tomorrow, expect some downside of 150-200 points for bank nifty future because of fresh profit booking and shorts pressure.
Rural Electrification Corporation Limited stock closed at 190 with loss. In intraday stock hit high at 193 while low was near 188. For tomorrow, traders can sell this stock around 192-194, zone with Stop loss of 200 and for target 180 on downside.