Market report 26 June 2014
NIFTY June expiry future last closed at 7576 with 20 points loss. In Intraday NIFTY, future made high at 7598 while low was at 7567. Total almost 30 points intraday range and closed with loss with small profit booking. On futures side, -18.45% open interest cut shows profit booking. On option side, 7600 call options writing was seen which is upcoming resistance. For tomorrow, traders buy nifty future near 7500 levels only with strict stop loss 7450 for target 7600.those already have must book profits and wait for correction or appropriate level to enter long.
BANKNIFTY June expiry future last closed at 15,241 with loss of 96 points. In intraday BANK NIFTY, future hit high at 15,338 while low was at 15,236. Total 100 points intraday range and closed with loss. On futures, side -15.31% open interest cut shows profit booking. On option side 15,500 call options writing has been seen. For tomorrow, must book all long and wait for correction. Best buying level will be 15,000-14,900 zone with stop loss below 14,800.
India VIX active future last closed at 1830 with almost 112 points loss. In intraday NVIX hit high at 2135 while low was at 1830. Total 300 points intraday range and closed with loss. On futures, side 13,500 open interest addition seen. For tomorrow, below 1900 levels keep short view.
NMDC Limited stock closed at 180 with loss. In intraday stock hit high at 183 while low was near 180. For tomorrow, traders can sell this stock near 182-183 levels with strict stop loss 188 for targets 170.