Market report 12 June 2014
NIFTY June expiry future last closed at 7622 with 47 points loss. In Intraday NIFTY, future made high at 7715 while low was at 7610. Total almost 105 points intraday range and closed with loss with profit booking. On futures side, -0.05% open interest cut shows profit booking. On option side, 7700 call options writing was seen which is upcoming resistance, as expected nifty future with gap up opening hit fresh high at 7715. Expect high volatility and wide intraday ranges for both nifty and banknifty indices. For tomorrow traders stay short with stop loss of 7680 for target 7550 to 7500. On the other hand, option traders can buy nifty 7600 put options on decline with strict stop loss in place.
BANKNIFTY June expiry future last closed at 15,429 with loss of 45 points. In intraday BANK NIFTY, future hit high at 15,699 while low was at 15,396. Total 300 points intraday range and closed with loss. On futures, side -0.95% open interest build cut shows profit booking. On option side 16,000 call options writing has been seen. For tomorrow, traders stay short with stop loss of 15,550 for target 15,300 and below. Alternatively, option traders can buy banknifty 15500 put options with strict stop loss for intraday.
India VIX active future last closed at 1885 with almost 172 points gain. In intraday NVIX hit high at 1885 while low was at 1875. Total 10 points intraday range and closed with gain on sharp short covering. On futures, side 3750 open interest addition seen. For tomorrow, above 1880 keep long view on vix future.
GAIL (India) Limited stock closed at 428 with loss. In intraday stock hit high at 441 while low was near 423. For tomorrow, traders can sell this stock near 430-432 levels with strict stop loss 442 for targets 415-410.