nifty banknifty BHARTIARTL share tips 11-12-2014
Nifty future last closed at 8407 with gain of 14 points. In intraday nifty future hit high around 8429 while low was at 8367. Total 65 points intraday range and closed with gain on some buying interest. On upside 8490 spot will remain as supply area so expect this bounce back extend up to that level. On option side 8500 call options writing continues. On future side, -0.67% open interest cut shows profit booking by short sellers. Here view remains bearish and strategy remains sell on rise. For better risk reward, sell nifty near 8490 levels. Option traders use 8500 put options for buying and accumulation.
Bank nifty future last closed at 18615 with gain of 211 points, in intraday banknifty future recorded high around 18650 while low was around 18321. Total 350 points intraday range and index closed with gain on short covering. On option side 19k, call options strong writing seen. On future side, 0.77% open interest build up suggests small buying. Here my given target of 18300 almost achieved in opening and from that level we seen reversal. On upside 18950 will remain major resistance and for short sellers it will be stop loss.
For tomorrow, our stock pick will be Bharti Airtel Limited. Today BHARTIARTL stock closed at 353 with loss. In intraday stock made high around 361 while low was around 348. For tomorrow, traders can buy BHARTIARTL stock around 350-348, zone with stop loss 342 for target 365+ in intraday. Here for medium term investors 330-310 is best buying zone.
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