free nifty banknifty futures trading tips for 2 January 2015
Nifty future last closed at 8347 with gain of 10 points. In intraday nifty future hit high around 8356 while low was at 8295. Total 60 points intraday range and closed with gain. Nifty option side 8400 call option writing seen and on futures side -.14% drop in open interest suggests some short covering. Here keep sell on rise view with strict stop loss above 8380 spot. For positional short sellers 8390 spot is stop loss. On downside, 8200 to 8100 remain as targets. Option traders can buy 8400 put options on decline with same stop loss.
Bank nifty future last closed at 18915 with gain of 12 points, in intraday banknifty future recorded high around 18929 while low was around 18775. Total 150 points intraday range and index closed with gain. On option side 19500, call options strong writing seen. On future side, -0.17% drop in open interest suggests short covering. For short term below 19100, keep bearish or corrective view for banknifty future with strict stop loss in place.
For tomorrow, our stock pick will be HCL Technologies Limited. Today HCLTECH stock closed at 1605 with gain. In intraday stock made high around 1611 while low was around 1585. For tomorrow, traders can buy HCLTECH stock around 1590-1600, zone with stop loss 1580 for target 1655+ in intraday.
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