market outlook 18 Nov 2014
NIFTY Nov. expiry future last closed at 8452 with 36 points gain. In Intraday NIFTY, future made high at 8465 while low was at 8371. Total almost 100 points intraday range and closed with gain. On futures side, -0.16% open interest cut suggest strong short covering in last hours. On option side, 8400 call options writing was seen. For tomorrow, sell nifty future near 85000 with stop loss for correction move.
BANKNIFTY Nov. expiry future last closed at 17675 with gain of 6 points. In intraday BANK NIFTY, future hit high at 17747 while low was at 17540. Total 200 points intraday range and closed with gain. On futures, side +0.21% open interest build up suggest long addition. On option side 18,000 call options writing has been seen. For tomorrow, go short near 18,000 with strict stop loss and expect correction ahead.
India VIX active future closed with no trading activity.
Maruti Suzuki India Limited stock closed at 3338 with gain. In intraday stock hit high at 3370 while low was near 3313. For tomorrow, traders can sell this stock near 3360 levels with strict stop loss 3400 for targets 3250.