Market report 18 June 2014
NIFTY June expiry future last closed at 7661 with 102 points gain. In Intraday NIFTY, future made high at 7665 while low was at 7533. Total almost 130 points intraday range and closed with gain as expected short covering. On futures side, +3.82% open interest build up shows strong long addition. On option side, 7600 call options writing was seen which is support for now. For tomorrow, traders with trailing stop loss at 7600 keep long view on market for target 7720.
BANKNIFTY June expiry future last closed at 15,472 with gain of 383 points. In intraday BANK NIFTY, future hit high at 15,475 while low was at 14,492. Total 500 points intraday range and closed with gain. On futures, side +7.36% open interest build up suggest strong long addition. On option side 15,500 call options writing has been seen. For tomorrow, traders above 15,200 keep buy on dips view for target 15,650 and above.
India VIX active future last closed at 1769 with almost 29 points loss. In intraday NVIX hit high at 1775 while low was at 1760. Total 15 points intraday range and closed with loss. On futures, side +400% open interest addition seen. For tomorrow, below 1800 level keep short view in vix future.
ITC Limited stock closed at 335 with loss. In intraday stock hit high at 338 while low was near 334. For tomorrow, traders can buy this stock near 330-332 levels with strict stop loss 325 for targets 345.