Nifty banknifty HCLTECH predictions 29 oct 2014

Nifty banknifty HCLTECH predictions 29 oct 2014

NIFTY Oct. expiry future last closed at 8040 with 43 points gain. In Intraday NIFTY, future made high at 8051 while low was at 8001. Total almost 50 points intraday range and closed with gain. On futures side, -14.53% open interest cut suggest short covering. On option side, 8000 put options writing was seen which is strong support on downside. For tomorrow, traders keep long view with strict stop loss below 7980 for target 8100+.

BANKNIFTY Oct. expiry future last closed at 16,700 with gain of 115 points. In intraday BANK NIFTY, future hit high at 16,718 while low was at 16610. Total 100 points intraday range and closed with gain. On futures, side -7.84% open interest cut suggests short covering. On option side 16,500 put options writing has been seen. For tomorrow, stay long with stop loss 16500.

India VIX active future last closed at 1335 with almost 125 points loss. In intraday NVIX hit high at 1335 while low was at 1325. Total 10 points intraday range and closed with loss. On futures, side 800 open interests seen. For tomorrow, stay short with stop loss 1380.

HCL Technologies Limited stock closed at 1500 with gain. In intraday stock hit high at 1511 while low was near 1480. For Monday, traders can buy this stock near 1490 levels with strict stop loss 1470 for targets 1540.

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Pramod Baviskar

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