Market tips for 9 May 2014
Nifty strategy for 9 May 2014
NIFTY May expiry future last closed at 6680 with 2 points loss. In Intraday NIFTY, future made high at 6720 while low was at 6661. Total almost 60 points intraday range and closed with loss on profit booking pressure. On futures side, -1.55% open interest cut suggest sharp profit booking on option side, 7000 call options writing was seen which is upcoming resistance. For tomorrow traders follow buy on dips view with strict stop loss below 6620 and for target 6750.
Bank Nifty strategy for 9 May 2014
BANKNIFTY May expiry future last closed at 13,100 with gain of 87 points. In intraday BANK NIFTY, future hit high at 13,163 while low was at 13,022. Total 150 points intraday range and closed with gain. On futures, side +5.22% open interest build up suggest long addition. On option side 13,500 call options writing has been seen. For tomorrow, follow buy on dips view with strict stop loss below 12,900 and for target 13,400.
VIX strategy for 9 May 2014
India VIX active future last closed at 3415 with almost 8 points loss. In intraday NVIX hit high at 3455 while low was at 3385. Total 70 points intraday range and closed with loss. On futures, side +2.74% open interest addition seen. For tomorrow, buy near 3400 with stop loss 3360 for target 3480.
Free stock tips for 9 May 2014
DLF Limited stock closed at 140 with loss. In intraday stock hit high at 141 while low was near 138. For tomorrow, traders can buy this stock near 138 levels with strict stop loss 134 for targets 144-145.