Nifty banknifty stocks view 2 Sep 2014
NIFTY Sep. expiry future last closed at 8072 with 86 points gain. In Intraday NIFTY, future made high at 8075 while low was at 8016. Total almost 60 points intraday range and closed with gain. On futures side, +2.44% open interest build up suggest strong long addition. On option side, 8000 put options writing was seen which is strong support on downside. 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 16,161 with gain of 376 points. In intraday BANK NIFTY, future hit high at 16,170 while low was at 15,812. Total 400 points intraday range and closed with gain. On futures, side +15.48% open interest build up suggest strong long addition. On option side 16,500 call options writing has been seen. For tomorrow, expect another 100 to 200 points extension rally. On downside, 16k will remain as strong support as well as stop loss for short-term traders.
India VIX active future last closed at 1360 with almost 25 points gain. In intraday NVIX hit high at 1360 while low was at 1360. Total 0 points intraday range and closed with gain. On futures, side -33.33 open interest cut seen. For tomorrow, expect upside as index still in oversold state.
DLF Limited stock closed at 179 with gain. In intraday stock hit high at 180 while low was near 175. For Monday, traders can buy this stock near 175 levels with strict stop loss 170 for targets 185.