Nifty banknifty TATAMOTORS tips 14 Oct 2014

Nifty banknifty TATAMOTORS tips 14 Oct 2014

NIFTY Oct. expiry future last closed at 7911 with 25 points gain. In Intraday NIFTY, future made high at 7930 while low was at 7817. Total almost 113 points intraday range and closed with gain. On futures side, -3.94% open interest cut suggest strong short covering. On option side, 8000 call options writing was seen which is strong resistance. Nifty spot achieved target of 7810 and then taken support and heading towards 7995. Traders here sell near 7995 with stop loss for downside targets. Option traders can keep buy and accumulate view for in the money put options.

BANKNIFTY Oct. expiry future last closed at 15,701 with gain of 205 points. In intraday BANK NIFTY, future hit high at 15,749 while low was at 15,340. Total 400 points intraday range and closed with gain. On futures, side +8.96% open interest build up suggest strong long addition. On option side 16,000 call options writing has been seen. For tomorrow, expect upside up to 16k. If gives closing above 16k then expect another short covering by strong hands.

India VIX active future last closed at 1450 with almost 15 points gain. In intraday NVIX hit high at 1471 while low was at 1450. Total 21 points intraday range and closed with gain. On futures, side 13,200 open interests seen. For tomorrow, above 1400 keep buy on dips view.

Tata Motors Limited stock closed at 496 with gain. In intraday stock hit high at 498 while low was near 480. For Monday, traders can buy this stock near 490 levels with strict stop loss 475 for targets 515.

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Pramod Baviskar

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