Nifty banknifty HDFCBANK trading calls for 15-12-2014
Nifty future last closed at 8276 with loss of 65 points. In intraday nifty future hit high around 8363 while low was at 8266. Total almost 100 points intraday range and closed with loss. Sell off continues on every rise and nifty look like heading for support target of 8180. This was already suggested by me in monthly outlook. On future side, 4.53% open interest build up suggest short addition in market. For traders 8320 is trailing stop loss for short positions for targets 8240 and then possibly 8180. Below 8180, nifty will enter in very bearish market with short-term view. In that scenario, expect margin call triggers and heavy sell off.
Bank nifty future last closed at 18411 with loss of 95 points, in intraday banknifty future recorded high around 18620 while low was around 18343. Total 300 points intraday range and index closed with loss of 100 points. On option side 19k, call options strong writing seen. On future side, -0.81% drop in open interest suggests profit bookings. For Monday, traders with trailing stop loss at 18500 keep bearish view for target 18300 to 18200.
For Monday, our stock pick will be HDFC Bank Limited. Last HDFCBANK stock closed at 932 with loss. In intraday stock made high around 936 while low was around 929. For Monday traders can sell HDFCBANK stock around 935-936, zone with stop loss 945 for target 910 to 900+ in intraday.
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