Market report 19 June 2014
NIFTY June expiry future last closed at 7556 with 102 points loss. In Intraday NIFTY, future made high at 7673 while low was at 7523. Total almost 150 points intraday range and closed with loss with panic profit booking. On futures side, -4.61% open interest cut shows profit booking. On option side, 7500 put options writing was seen which is support on downside. As expect positive opening seen today but as Iraq issue deepens and crude likely to boil ahead expect panic moves with extensive volatility in market. Traders for tomorrow below 7600 keep bearish view on nifty future. Option traders can go long in nifty 7600 put option on decline.
BANKNIFTY June expiry future last closed at 15,230 with loss of 215 points. In intraday BANK NIFTY, future hit high at 15,491 while low was at 15,152. Total 250 points intraday range and closed with loss. On futures, sides -1.39% open interest build up suggest strong profit booking of last move. On option side 15,000 put options writing has been seen. For tomorrow, traders below 15,350 stay short for intraday and expect downside up to 15,100-15k. Option traders can trade 15,300 put options for intraday.
India VIX active future last closed at 2030 with almost 60 points gain. In intraday NVIX hit high at 2060 while low was at 2000. Total 60 points intraday range and closed with gain on sharp short covering. On futures, side +55.56% open interest addition seen. For tomorrow, above 2000 keep Longview on vix future.
Ambuja Cements Limited stock closed at 220 with loss. In intraday stock hit high at 229 while low was near 220. For tomorrow, traders can sell this stock near 223-225 levels with strict stop loss 232 for targets 205.