Nifty banknifty 25 sep 2014 expiry analysis and tips
NIFTY Sep. expiry future last closed at 8015 with 17 points loss. In Intraday NIFTY, future made high at 5049 while low was at 7959. Total almost 90 points intraday range and closed with loss. On futures side, -20.16% open interest cut suggest long positions unwinding near expiry. On option side, 8100 call options writing was seen which is strong resistance. On expiry day, expect short covering on lower level and nifty future might expire above 8000. Option traders can buy 7900 call option on decline with stop loss for the expiry day.
BANKNIFTY Sep. expiry future last closed at 15,743 with loss of 187 points. In intraday BANK NIFTY, future hit high at 15,966 while low was at 15,640. Total 300 points intraday range and closed with loss. On futures, side -7.93% open interest cut suggests strong profit booking by investors. On option side 16,000 call options writing has been seen. For tomorrow, expect bounce back from lower level and expiry above 15,800. So for intraday risky traders stay long with stop loss below 15,600 or option traders can buy 15,600 call options on decline and with strict risk based stop loss.
India VIX active future last closed at 1250 with almost 25 points loss. In intraday NVIX hit high at 1265 while low was at 1250. Total 15 points intraday range and closed with loss. On futures, side +66.67% open interest addition seen. For tomorrow, stay short with stop loss 1300.
IDFC Limited stock closed at 142 with loss. In intraday stock hit high at 143 while low was near 139. For Monday, traders can buy this stock near 140 levels with strict stop loss 136 for targets 147.