NSE market technicals for 10 sep 2014
NIFTY Sep. expiry future last closed at 8183 with 11 points loss. In Intraday NIFTY, future made high at 8200 while low was at 8158. Total almost 42 points intraday range and closed with loss. On futures side, -4.17% open interest cut suggest profit booking. On option side, 8200 call options writing was seen which is resistance on upside. For tomorrow, traders with stop loss below 8140 keep long or buy on dips view for target 8250. If nifty future slips below 8140 then expect correction and consolidation up to 8050. Option traders keep buy on dips view for 8000 call options with strict risk based stop loss.
BANKNIFTY Sep. expiry future last closed at 16,238 with loss of 30 points. In intraday BANK NIFTY, future hit high at 16,279 while low was at 16,135. Total 150 points intraday range and closed with loss. On futures, side -3.01% open interest cut suggests profit-booking pressure. On option side 16,500 call options writing has been seen. For tomorrow, above 16k keep buy on dips view on future for targets 16,350 and above. Option traders follow it for 16k call options with strict stop loss as per individual’s risk.
India VIX active future last closed at 1275 with almost 15 points loss. In intraday NVIX hit high at 1304 while low was at 1274. Total 30 points intraday range and closed with loss. On futures, side -16.67% open interest cut seen. For tomorrow, watch 1250 support level.
Cairn India Limited stock closed at 341 with gain. In intraday stock hit high at 344 while low was near 336. For Monday, traders can buy this stock near 338 levels with strict stop loss 330 for targets 355.