Market report 25 June 2014
NIFTY June expiry future last closed at 7592 with 87 points gain. In Intraday NIFTY, future made high at 7616 while low was at 7525. Total almost 90 points intraday range and closed with gain on strong buying as well as trapped short covering. On futures side, -0.85% open interest cut shows trapped short covering. On option side, 7600 call options writing was seen which is upcoming resistance. For tomorrow, now trail stop loss at 7560 and wait for target 7655.
BANKNIFTY June expiry future last closed at 15,343 with gain of 217 points. In intraday BANK NIFTY, future hit high at 15,384 while low was at 15,194. Total 200 points intraday range and closed with gain. On futures, side -11.19% open interest cut shows strong short covering from trapped traders. On option side 15,500 call options writing has been seen. For tomorrow, traders trail stop loss at 15,200 and hold long view for target 15,550.
India VIX active future last closed at 1918 with almost 37 points loss. In intraday NVIX hit high at 1944 while low was at 1900. Total 44 points intraday range and closed with loss. On futures, side +137.5% open interest addition seen. For tomorrow, below 1980 keep short view on vix futures.
Hindustan Unilever Limited stock closed at 619 with gain. In intraday stock hit high at 624 while low was near 613. For tomorrow, traders can buy this stock near 615 levels with strict stop loss 604 for targets 650.