Nifty banknifty stocks view for 3 sep 2014

Nifty banknifty stocks view for 3 sep 2014

NIFTY Sep. expiry future last closed at 8126 with 57 points gain. In Intraday NIFTY, future made high at 8139 while low was at 8054. Total almost 90 points intraday range and closed with gain. On futures side, +2.12% 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 long view but buy near support zone of 8050-8080 for better risk reward ratio. Stop loss will remain below 8050 for target 8150 to 8180.

BANKNIFTY Sep. expiry future last closed at 16,205 with gain of 93 points. In intraday BANK NIFTY, future hit high at 16,249 while low was at 16,115. Total 140 points intraday range and closed with gain. On futures, side +4.13% open interest build up suggest strong long addition. On option side 16,500 call options writing has been seen. For tomorrow, with 16050 trailing stop loss hold long positions for target 16,500.

India VIX active future last closed at 1344 with almost 17 points loss. In intraday NVIX hit high at 1355 while low was at 1344. Total 11 points intraday range and closed with loss. On futures, side +350% open interest addition seen. From long-term view, keep accumulating.

Maruti Suzuki India Limited closed at 2917 with gain. In intraday stock hit high at 2966 while low was near 2907. For Monday, traders can sell this stock near 2950 levels with strict stop loss 3000 for targets 2850.

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Pramod Baviskar

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