Market report 11 June 2014
NIFTY June expiry future last closed at 7675 with 5 points gain. In Intraday NIFTY, future made high at 7680 while low was at 7588. Total almost 90 points intraday range and closed with gain on last buying. In intraday we have seen breakdown below 7640 and nifty given downside 50 points downside rally. On futures side, +6.07% open interest addition shows long positions accumulation. On option side, 7700 call options writing was seen which is upcoming resistance. For tomorrow, traders above 7650 keep long view for nifty future.
BANKNIFTY June expiry future last closed at 15,458 with loss of 125 points. In intraday BANK NIFTY, future hit high at 15,595 while low was at 15,360. Total 250 points intraday range and closed with loss as I suggested in yesterdays posts. On futures, side +1.37% open interest build up shows fresh short addition. On option side 16,000 call options writing has been seen. For tomorrow, traders above 14,400 keep long view for intraday.
India VIX active future last closed at 1667 with almost 57 points loss. In intraday NVIX hit high at 1710 while low was at 1664. Total 46 points intraday range and closed with loss on profit booking. On futures, side +33.33% open interest addition seen. For tomorrow, below 1680 level keep short view in vix future.
Hindalco Industries Limited stock closed at 169 with gain. In intraday stock hit high at 173 while low was near 162. For tomorrow, traders can buy this stock near 165 levels with strict stop loss 160 for targets 175.