Market report 10 June 2014

Market report 10 June 2014

Market report 10 June 2014

 

NIFTY June expiry future last closed at 7664 with 74 points gain. In Intraday NIFTY, future made high at 7690 while low was at 7624. Total almost 66 points intraday range, closed with gain on strong buying, and trapped short covering. On futures side, +8.90% open interest build up shows strong long addition. On option side, 7700 call options writing was seen which is upcoming resistance. For tomorrow, traders keep long view for nifty future with strict trailing stop loss at 7640. On upside targets zones are 7700-7745.

 

 

BANKNIFTY June expiry future last closed at 15,553 with loss of 18 points. In intraday BANK NIFTY, future hit high at 15,750 while low was at 15,515. Total 250 points intraday range and closed with loss. On futures, sides +1.72% open interest build up suggest strong long addition. On option side 16,000 call options writing has been seen. For tomorrow, traders below 15,650 keep short view on bank nifty for downside targets.

 

India VIX active future last closed at 1724 with almost 99 points gain. In intraday NVIX hit high at 1724 while low was at 1645. Total 80 points intraday range and closed with gain on sharp short covering. On futures, side +28.57% open interest addition seen. For tomorrow, above 1680 level keep long view on vix future.

 

Cairn India Limited stock closed at 373 with loss. In intraday stock hit high at 382 while low was near 372. For tomorrow, traders can sell this stock near 376-378 levels with strict stop loss 385 for targets 360.

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Pramod Baviskar

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