Premarket tips and strategy 27 May 2014

Premarket tips and strategy 27 May 2014

Premarket tips and strategy 27 May 2014

 

 

NIFTY May expiry future last closed at 7365 with 17 points loss. In Intraday NIFTY, future made high at 7514 while low was at 7267. Total almost 250 points intraday range and closed with loss as sharp profit booking wave hit the market. On futures side, -8.94% open interest cut suggest strong profit booking plus fresh short addition. On option side, 7500 call options writing was seen which is upcoming resistance. For tomorrow traders below 7420 keep sell on rise view for nifty or buy nifty 7400 put options for intraday with strict stop loss.

 

BANKNIFTY May expiry future last closed at 15,185 with loss of 165 points. In intraday BANK NIFTY, future hit high at 15,625 while low was at 14,970. Total 700 points intraday range and closed with loss on strong profit booking volume. On futures, side -7.64% open interest cut shows strong profit booking and fresh short additions. On option side 15,500 call options writing has been seen. For tomorrow, below 15,400 keep sell on rise view and expect downside for bank nifty future up to 14,900 or buy and accumulate in 15,400 put options with strict stop loss in place.

 

India VIX active future last closed at 1930 with almost 130 points gain. In intraday NVIX hit high at 1940 while low was at 1825. Total 105 points intraday range and closed with gains on buying interest. On futures side, -23.68% open interest cut seen which is suggestive of sharp short covering. For tomorrow, above 1890 keep long view on VIX for targets above 2000.

 

Axis Bank Limited stock closed at 1870 with gain. In intraday stock hit high at 1929 while low was near 1848. For tomorrow, traders can sell this stock near 1890-1900 levels with strict stop loss 1930 for targets 1840-1830.

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.

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