Nifty banknifty stocks trading strategy for 12 sep 2014
NIFTY Sep. expiry future last closed at 8117 with 14 points loss. In Intraday NIFTY, future made high at 8148 while low was at 8072. Total almost 76 points intraday range and closed with loss. On futures side, -3.87% open interest cut suggest profit booking. On option side, 8100 put options writing was seen which is strong support on downside. For tomorrow, below 8140 expect downside up to 8050. today wee seen that nifty future not sustained above 8140 and tumbled to low of 8072.market still resilient to selling as banknifty showing outperformance so keep tight stop loss for short view or buy only if sustain above 8140.
BANKNIFTY Sep. expiry future last closed at 16,273 with gain of 40 points. In intraday BANK NIFTY, future hit high at 16,364 while low was at 16,212. Total 150 points intraday range and closed with gain. On futures, side -3.95% open interest cut suggests short covering by traders. On option side 16,500 call options writing has been seen. For tomorrow, above 16k keep buy on decline view for target 16,500.
India VIX active future last closed at 1265 with almost 36 points loss. In intraday NVIX hit high at 1300 while low was at 1260. Total 40 points intraday range and closed with loss. On futures, side +100% open interest addition seen. For tomorrow, watch 1250-support zone for reversal or breakdown.
Bharat Petroleum Corporation Limited stock closed at 677 with gain. In intraday stock hit high at 691 while low was near 676. For Monday, traders can buy this stock near 670 levels with strict stop loss 655 for targets 705.