Nifty banknifty stocks view 1 Sep 2014
NIFTY Sep. expiry future last closed at 7977 with 5 points gain. In Intraday NIFTY, future made high at 8007 while low was at 7975. Total almost 33 points intraday range and closed with gain. On futures side, +46.74% open interest build up suggest strong long rollover. On option side, 8000 call options writing was seen which is upcoming resistance. For Monday, expect another extension to rally and higher levels above 8000. My personal targets are 8040 and then 8150. On downside, 7920 is stop loss for intraday as well as short-term traders. Option traders can buy 7900 call options on decline with same stop loss for big upside gains in short terms.
BANKNIFTY Sep. expiry future last closed at 15,763 with loss of 42 points. In intraday BANK NIFTY, future hit high at 15,888 while low was at 15,742. Total 150 points intraday range and closed with loss. On futures, side +48.73% open interest build up suggest strong rollovers. On option side 15,800 call options writing has been seen. For Monday might show levels of 16k on downside 15,650 is trailing stop loss for long traders.
India VIX active future last closed at 1335 with almost 75 points loss. In intraday NVIX hit high at 1340 while low was at 1331. Total 9 points intraday range and closed with loss. On futures, side 1650 open interest addition seen. For Monday expect another downside but traders stay cautious as trading in heavily oversold state.
Bharti Airtel Limited stock closed at 369 with gain. In intraday stock hit high at 373 while low was near 368. For Monday, traders can buy this stock near 365levels with strict stop loss 360 for targets 375.