Nifty banknifty stocks view for 4 Sep. 2014
NIFTY Sep. expiry future last closed at 8143 with 22 points gain. In Intraday NIFTY, future made high at 8173 while low was at 8118. Total almost 55 points intraday range and closed with gain. On futures side, +1.22% open interest build up suggest strong long addition. On option side, 8200 call options writing was seen which is upcoming resistance for index. For tomorrow, traders keep buy on dips and with strict stop loss below today’s low of 8118 for target 8250. Option traders hold in the money call options for extended gains.
BANKNIFTY Sep. expiry future last closed at 16,192 with loss of 13 points. In intraday BANK NIFTY, future hit high at 16,294 while low was at 16,105. Total 200 points intraday range and closed with loss. On futures, side -0.16% open interest cut suggest profit booking. On option side 16,500 call options writing has been seen. For tomorrow, traders keep long view with strict stop loss below 16k for target 16,300 and above. Option traders can buy in the money options on decline with same stop loss.
India VIX active future last closed at 1345 with almost 7 points gain. In intraday NVIX hit high at 1359 while low was at 1340. Total 19 points intraday range and closed with gain. On futures, side +175% open interest addition seen. For tomorrow, expect upside as index still in oversold state.
Bharat Petroleum Corporation Limited stock closed at 704 with gain. In intraday stock hit high at 722 while low was near 701. For tomorrow, traders can buy BPCL stock around 695-700 rupee level with strict stop loss 678 for target 735.