Nifty future trading tips for 16 sep 2014
NIFTY Sep. expiry future last closed at 8058 with 80 points loss. In Intraday NIFTY, future made high at 8100 while low was at 8048. Total almost 52 points intraday range and closed with loss. On futures side, -1.78% open interest cut shows strong profit booking. On option side, 8100 call options writing was seen which is strong resistance for now. For tomorrow, traders sell nifty future around 8080-8100 with stop loss 8200 for target 8000 and below. Option traders follow buy and accumulate view on in the money put options with strict stop loss.
BANKNIFTY Sep. expiry future last closed at 16,215 with loss of 106 points. In intraday BANK NIFTY, future hit high at 16,309 while low was at 16,151. Total 150 points intraday range and closed with loss. On futures, side -2.03% open interest cut suggests strong profit booking. On option side 16,500 call options writing has been seen. For tomorrow, traders below 16,500 keep sell on rise view for banknifty and expect targets below 16k in short terms. Option traders can follow it for 16,500 put options with strict stop loss in place.
India VIX active future last closed at 1360 with almost 45 points loss. In intraday NVIX hit high at 1360 while low was at 1335. Total 25 points intraday range and closed with loss. On futures, side 2200 open interest seen. For tomorrow, stay short with strict stop loss 1400.
Maruti Suzuki India Limited stock closed at 2963 with loss. In intraday stock hit high at 2974 while low was near 2930. For Monday, traders can sell this stock near 2980 levels with strict stop loss 3010 for targets 2880.