nifty banknifty BHEL stock tips 14 jan 2015
Nifty future last closed at 8329 with loss of 31 points. In intraday nifty future hit high around 8388 while low was at 8279. Total 100 points intraday range and closed with loss. Nifty option side 8400 call option writing seen and on futures side -2.45% additions in open interest suggest fresh shorts. For tomorrow, expect bounce back up to 8380 to 8400. Nevertheless, keep sell on rise view with strict stop loss in place. On downside, 8250 and 8100 remain as targets. Nifty trend reversal happen if sustain above 8380 spot for more than 2 sessions.
Bank nifty future last closed at 18776 with loss of 114 points. In intraday banknifty, future recorded high around 18995 while low was around 18675. Total 300 points intraday range and index closed with loss. On option side 19500, call options strong writing seen. On future side, -5.91% cut in open interest suggests strong profit booking. For tomorrow, expect bounce back up to 19k but with stop loss above 19200 keep sell on rise view here.
For tomorrow, our stock pick will be Bharat Heavy Electricals Limited. Today BHEL stock closed at 258 with gain. In intraday stock made high around 266 while low was around 255. For tomorrow, traders can buy BHEL stock around 255, zone with stop loss 249 for target 266+ in intraday.
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