Market tips 30 May 2014
NIFTY June expiry future last closed at 7277 with 77 points loss. In Intraday NIFTY, future made high at 7377 while low was at 7241. Total almost 130 points intraday range and closed with loss with fresh breakdown. On futures side, +35.51% open interest build up suggest strong long rollovers. On option side, 7500 call options writing was seen which is upcoming resistance. For tomorrow traders below 7310 keep short view on nifty future for target 7240-7200 or buy nifty 7300 put options with strict stop loss.
BANKNIFTY June expiry future last closed at 15,061 with loss of 118 points. In intraday BANK NIFTY, future hit high at 15,286 while low was at 15,026. Total 250 points intraday range and closed with loss. On futures, side +52.31% open interest build up suggest strong rollovers. On option side 16,000 call options writing has been seen. For tomorrow, traders below 15,200 stay short on bank nifty or buy bank nifty 15,200 put options with strict stop loss in place.
India VIX active future last closed at 1800 with almost 57 points loss. In intraday NVIX hit high at 1810 while low was at 1782. Total 72 points intraday range and closed with loss with fresh short addition. On futures, side +45.45% open interest addition seen. For tomorrow, above 1790 keep long view for VIX.
Sesa Sterlite Limited stock closed at 276 with loss. In intraday stock hit high at 280 while low was near 267. For tomorrow, traders can sell this stock near 280 levels with strict stop loss 286 for targets 260.