Market report 30 June 2014
NIFTY July expiry future last closed at 7545 with 11 points gain. In Intraday NIFTY, future made high at 7569 while low was at 7512. Total almost 60 points intraday range and closed with gain on buying as expected. On futures side, -1.17% open interest cut shows short covering in late session. On option side, 7700 call options writing was seen which is upcoming resistance. For Monday traders keep long view for nifty future and with strict stop loss below 7450, keep buy and accumulate view on decline for target 7600. On the other hand, option traders can buy 7500 call options on decline with same stop loss.
BANKNIFTY July expiry future last closed at 15,155 with loss of 58 points. In intraday BANK NIFTY, future hit high at 15,278 while low was at 15,075. Total 200 points intraday range and closed with loss. On futures, side +3.22% open interest build up suggest strong long addition. On option side 16,000 call options writing has been seen. For Monday, traders use 14,900-15k zone for buying and accumulation with strict stop loss below 14,800 for target1 5,300 to 15,500 positional or option traders keep buy and accumulate view on banknifty 15k call options on decline with same stop loss in place.
India VIX active future last closed at 1940 with almost 20 points loss. In intraday NVIX hit high at 1950 while low was at 1920. Total 30 points intraday range and closed with loss on fresh shorts. On futures, side +13.51% open interest addition seen. For Monday, below 1980 level keep short view in vix future.
Bharat Heavy Electricals Limited stock closed at 244 with loss. In intraday stock hit high at 253 while low was near 242. For Monday, traders can buy this stock near 240-242 levels with strict stop loss 236 for targets 255.