Market report 17 June 2014
NIFTY June expiry future last closed at 7552 with 8 points loss. In Intraday NIFTY, future made high at 7578 while low was at 7513. Total almost 65 points intraday range and closed with loss with small profit booking. On futures side, -1.15% open interest cut shows profit booking. On option side, 7600 call options writing was seen which is upcoming resistance. For tomorrow, traders watch 7540 support level if sustain above it then buy for target 7620. Option traders can buy 7600 call option for intraday with stop loss below 7540.
BANKNIFTY June expiry future last closed at 15,075 with loss of 88 points. In intraday BANK NIFTY, future hit high at 15,163 while low was at 14,190. Total 175 points intraday range and closed with loss. On futures, side -2.28% open interest build up suggest profit booking. On option side 15,500 call options writing has been seen. For tomorrow, traders watch 15k support if sustain above it then buy for target 15,300. Option traders can buy 15,100 call options with strict stop loss below 15k.
India VIX active future last closed at 1795 with almost 43 points gain. In intraday NVIX hit high at 1805 while low was at 1795. Total 10 points intraday range and closed with gain on sharp short covering. On futures, side -20% open interest cut seen. For tomorrow, 1800-1810 is strong supply zone.
Bharti Airtel Limited stock closed at 333 with gain. In intraday stock hit high at 335 while low was near 327. For tomorrow, traders can buy this stock near 330 levels with strict stop loss 325 for targets 340.