NIFTY May expiry future last closed at 6902 with 26 points gain. In Intraday NIFTY, future made high at 6910 while low was at 6871. Total almost 39 points intraday range and closed gain with another short covering. On futures side, +47.18% open interest build up suggest strong long rollover. On option side, 7000 call options writing was seen which is upcoming resistance. On 24 April, markets will remain closed on event of general election voting and opens on 25 April 2014. Here traders keep stop loss of 6950 and sell nifty future for target 6850 on 25 April 2014.
BANKNIFTY May expiry future last closed at 13,124 with gain of 122 points. In intraday BANK NIFTY, future hit high at 13,133 while low was at 12,955. Total 180 points intraday range and closed with gain. On futures, side -49.62% open interest shed shows sharp short covering. On option side 13,500 call options writing has been seen. For 25th April traders keep short view for banknifty and sell it with strict stop loss 13,250 for target 12,950.
India VIX active future last closed at 3485 with almost 272 points gain. In intraday NVIX hit high at 3616 while low was at 3485. Total 130 points intraday range and closed with gains on buying interest. On futures, side 46,500 open interest addition seen. For 25 April, traders must keep buy on dips view with strict stop loss 3400.
Oil & Natural Gas Corporation Limited stock closed at 327 with gain. In intraday stock hit high at 332 while low was near 322. For tomorrow, traders can sell this stock near 330-332 level with strict stop loss 336 for targets 320.