Nifty Jan. expiry future last closed at 6300 with 122 points gain. In Intraday NIFTY, future made low at 6201 while high was at 6301. Total almost 100 points intraday range and closed with gains. Nifty future achieved previously given targets.
On futures side, +3.1% open interest build up strong long addition and panic short covering. On option side, 6200 put options closed in red on high volume writing while 6300 call options closed with gain.
For 15 Jan 2014, traders must go short near 6320-6340 zones with strict Stoploss of 6380 and expect strong correction upto 6200. As this was on technical bounce back from oversold zone and we may see trend will resume eventually.
Bank nifty Jan. expiry future last closed at 11,098 with gains of 261 points. In intraday BANK NIFTY, future hit high at 11,100 while low was at 10,821. Total 270 points intraday range and closed with gains.
On futures side, -2.29% open interest cut with price movement shows panic short covering by traders. On option side, 10,500 put options closed with loss on fresh writing. While Bank nifty 11,500 call options is closed with gain on sharp short covering.
For 15 Jan 2014, bank nifty is sell as it was only technical bounce back. Here go short near 11,200-11,250 levels with strict Stoploss 11,400 for target 10,900 and below.
Today HINDZINC stock closed at 128 with loss. In intraday stock hit high at 131 while closed near low of 127. For 15 Jan 2014, traders can sell this stock around 129-130, zone with Stoploss 132.5 and for target 124.