Nifty October expiry tips
NIFTY Oct. expiry future last closed at 8091 with 52 points gain. In Intraday NIFTY, future made high at 8095 while low was at 8057. Total almost 40 points intraday range and closed with gain. On futures side, -11.15% open interest cut suggest short covering. On option side, 8100 call options writing was seen. For tomorrow, traders stay long with stop loss 8050 for target 8140 to 8180. Option traders can buy 8000 call options of Nov. expiry with same stop loss for intraday.
BANKNIFTY Oct. expiry future last closed at 16,649 with loss of 38 points. In intraday BANK NIFTY, future hit high at 16,785 while low was at 16590. Total 200 points intraday range and closed with loss. On futures, side -15.15% open interest cut suggest profit booking. On option side 16,500 put options writing has been seen. For tomorrow, stay long with strict stop loss below 16500. Option traders can buy 16500 call options with same stop loss.
India VIX active future last closed at 1372 with no trading activity.
Oil & Natural Gas Corporation Limited stock closed at 393 with gain. In intraday stock hit high at 396 while low was near 391. For tomorrow, traders can buy this stock near 390 levels with strict stop loss 385 for targets 400.