Nifty banknifty AMBUJACEM tips 8 Oct 2014

Nifty banknifty AMBUJACEM tips 8 Oct 2014

NIFTY Oct. expiry future last closed at 7892 with 92 points loss. In Intraday NIFTY, future made high at 7970 while low was at 7883. Total almost 90 points intraday range and closed with loss. On futures side, +4.44% open interest build up suggest strong short addition. On option side, 8000 call options writing was seen which is strong support resistance. For tomorrow, traders keep sell on rise strategy and expect profit booking to continue. Sell near 7900-7920 with stop loss 7980 for target 7850 to 7800. Option traders can buy 8000 put options on decline for intraday.

BANKNIFTY Oct. expiry future last closed at 15,233 with loss of 151 points. In intraday BANK NIFTY, future hit high at 15,415 while low was at 15,233. Total 200 points intraday range and closed with loss. On futures, side +5.86% open interest build up suggest strong short addition. On option side 16,000 call options writing has been seen. For tomorrow, sell banknifty future near 15,350 with stop loss for downside target of 15,100 and below. Option traders can buy 15,500 put options on decline for intraday purpose.

India VIX active future last closed at 1446 with almost 97 points gain. In intraday NVIX hit high at 1446 while low was at 1365. Total 80 points intraday range and closed with gain. On futures, side +100% open interest build up seen. For tomorrow, stay long with stop loss 1400.

Ambuja Cements Limited stock closed at 20.945 with loss. In intraday stock hit high at 210 while low was near 207. For tomorrow, traders can sell this stock near 210-211 levels with strict stop loss 216 for targets 200.

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.

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