Nifty banknifty stocks trades for 29 sep 2014
NIFTY Oct. expiry future last closed at 8033 with 61 points gain. In Intraday NIFTY, future made high at 8057 while low was at 7897. Total almost 160 points intraday range and closed with gain. On futures side, +4% open interest build up suggest strong long addition. On option side, 7900 put options writing was seen which is strong support on downside. As expected we seen sell off up to 7900 but as S&P upgraded Indian economy outlook we seen sharp short covering on strong FII buying trigger. For Monday. Intraday traders stay long with stop loss 7980 for target 8150 while positional traders can keep long view with stop loss below 7900. Option traders keep buy on decline and accumulation view on 7900 call options with stop loss.
BANKNIFTY Oct. expiry future last closed at 15,737 with gain of 291 points. In intraday BANK NIFTY, future hit high at 15,789 while low was at 15,275. Total 500 points intraday range and closed with gain. On futures, side -2.89% open interest cut suggests strong short covering. On option side 16,000 call options writing has been seen. We have seen lower level up to 15,200 but now sentiment in bull’s hands so stay with them. Above 15,500, keep buy on dips view for target 15,800 and then 16,100. Option traders keep buy on dips view for 16k call options with strict stop loss.
India VIX active future last closed at 1310 with almost 47 points gain. In intraday NVIX hit high at 1310 while low was at 1300. Total 10 points intraday range and closed with gain. On futures, side 3300 open interest addition seen. For Monday, stay short with stop loss 1350.
ICICI Bank Limited stock closed at 1480 with gain. In intraday stock hit high at 1482 while low was near 1435. For Monday, traders can buy this stock near 1460-1470 levels with strict stop loss 1450 for targets 1520.