Market report 13 June 2014
NIFTY June expiry future last closed at 7671 with 35 points gain. In Intraday NIFTY, future made high at 7677 while low was at 7610. Total almost 67 points intraday range and closed with gain on buying. On futures side, 3.78% open interest build up suggest strong buying on lower levels. On option side, 7700 call options writing was seen which is upcoming resistance. For tomorrow, expect high volatility and as nifty showing resilience to selling keep long view above 7600. On the other hand, option traders can buy nifty 7700 call options on decline for intraday.
BANKNIFTY June expiry future last closed at 15,550 with gain of 76 points. In intraday BANK NIFTY, future hit high at 15,580 while low was at 15,322. Total 250 points intraday range and closed with gain. On futures, side -0.38% open interest cut shows shorts are covered. On option side 16,000 call options writing has been seen. For tomorrow, traders above 15,400 keep buy on dips view for target 15,700 and above. Alternatively, option traders can buy banknifty 15600 call options.
India VIX active future last closed at 1750 with almost 75 points gain. In intraday NVIX hit high at 1785 while low was at 1750. Total 35 points intraday range and closed with gain on sharp short covering. On futures, side +150% open interest addition seen. For tomorrow, watch 1760 as strong resistance.
Axis Bank Limited stock closed at 1904 with loss. In intraday stock hit high at 1928 while low was near 1892. For tomorrow, traders can buy this stock near 1900-1890 levels with strict stop loss 1870 for targets 1960.