NSE trading strategy for 25 nov 2014
NIFTY Nov. expiry future last closed at 8538 with 46 points gain. In Intraday NIFTY, future made high at 8539 while low was at 8505. Total almost 35 points intraday range and closed with gain. On futures side, -9.84% open interest cut shows another bout of short covering. On option side, 8500 call options writing was seen which is strong support on downside. For tomorrow, nifty has target at 8580 and support at 8480. Long traders and investors must stay causations and keep tight trailing stop loss for there positions.
BANKNIFTY Nov. expiry future last closed at 18316 with gain of 219 points. In intraday BANK NIFTY, future hit high at 18329 while low was at 18135. Total 200 points intraday range and closed with gain. On futures, side -10.71% open interest cut suggests short covering. On option side 18000 put options writing has been seen. For tomorrow, 18200 is trailing stop loss for long positions and resistance will be at 18480.
India VIX active future closed with no trading activity.
Bank of Baroda stock closed at 1038 with loss. In intraday stock hit high at 1055 while low was near 1035. For tomorrow, traders can sell this stock near 1050 levels with strict stop loss 1070 for targets 1000.