Nifty banknifty stocks analysis 5 sep 2014
NIFTY Sep. expiry future last closed at 8137 with 3 points loss. In Intraday NIFTY, future made high at 8138 while low was at 8092. Total almost 46 points intraday range and closed with loss. On futures side, -5.81% open interest build up suggest strong profit booking. On option side, 8200 call options writing was seen which is strong upcoming resistance. For tomorrow, traders keep buy on dips and with strict stop loss below 8040 expect target of 8150 to 8180 for intraday. Option traders can follow it for 8000 call options with same stop loss.
BANKNIFTY Sep. expiry future last closed at 16,125 with loss of 58 points. In intraday BANK NIFTY, future hit high at 16,170 while low was at 16,011. Total 160 points intraday range and closed with loss. On futures, side -3.97% open interest cut suggests profit booking. On option side 16,500 call options writing has been seen. For tomorrow, stay long with strict stop loss below 16k for target 16,350 and above. Option traders keep accumulating 16k call options on decline with strict stop loss as per your own risk.
India VIX active future last closed at 1330 with almost 20 points loss. In intraday NVIX hit high at 1330 while low was at 1330. Total 0 points intraday range and closed with loss. On futures, side +9.09% open interest addition seen. For tomorrow, expect downside up to 1250.
Hindustan Petroleum Corporation Limited stock closed at 469 with loss. In intraday stock hit high at 473 while low was near 465. For tomorrow, buy stock near 465 with stop loss 457 for target 485.