Nifty banknifty HINDPETRO predictions 26 nov 2014

Nifty banknifty HINDPETRO predictions 26 nov 2014

NIFTY Nov. expiry future last closed at 8472 with 63 points gain. In Intraday NIFTY, future made high at 8540 while low was at 8437. Total almost 105 points intraday range and closed with loss. On futures side, -30.99% open cut suggest profit booking. On option side, 8500 call options writing was seen which is resistance for now. For tomorrow, sell nifty future near 8500 to 8530 zone with stop loss for 8580 and expect correction, which looks like already, started today.

BANKNIFTY Nov. expiry future last closed at 18,059 with loss of 246 points. In intraday BANK NIFTY, future hit high at 18320 while low was at 18015. Total 300 points intraday range and closed with loss. On futures, side -21.16% open interest cut suggest profit booking. On option side 18,000 put options writing has been seen. For tomorrow, keep sell on rise view with stop loss of 18300. On the other hand, buy in the money put options of dec. expiry with stop loss and with short-term view.

India VIX active future closed at 1352 with loss of 36 points. In intraday vix, future hit high at 1380 while low was at 1330. Total 50 points intraday range and closed with loss. Here buy near 1300 level with stop loss.

Hindustan Petroleum Corporation Limited stock closed at 528 with loss. In intraday stock hit high at 536 while low was near 524. For tomorrow, traders can sell this stock near 530 levels with strict stop loss 540 for targets 510.

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Pramod Baviskar

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