Nifty bank nifty futures strategy 22 sep 2014
NIFTY Sep. expiry future last closed at 8129 with 7 points loss. In Intraday NIFTY, future made high at 8166 while low was at 8111. Total almost 55 points intraday range and closed with loss. On futures side, -6.19% open interest cut suggest profit booking. On option side, 8200 call options writing was seen which remain immediate resistance. For Monday, stay short with stop loss 8200 for corrective move. If gives reversal around 8050 then buy with stop loss for bounce back.
BANKNIFTY Sep. expiry future last closed at 16,151 with loss of 57 points. In intraday BANK NIFTY, future hit high at 16,235 while low was at 16,073. Total 150 points intraday range and closed with loss. On futures, side -3.1% open interest cut suggests profit booking. On option side 16,500 call options writing has been seen. For Monday, stay short with stop loss 16,300 for correction.
India VIX active future last closed at 1240 with almost 7 points loss. In intraday NVIX hit high at 1240 while low was at 1235. Total 5 points intraday range and closed with loss. On futures, side -+25% open interest addition seen. For Monday, expect bounce back from 1200 level.
Bharti Airtel Limited stock closed at 416 with loss. In intraday stock hit high at 420 while low was near 409. For Monday, traders can sell this stock near 418-420 levels with strict stop loss 425 for targets 405.