stock market tomorrow 18 sep 2014
NIFTY Sep. expiry future last closed at 7992 with 32 points gain. In Intraday NIFTY, future made high at 8010 while low was at 7962. Total almost 48 points intraday range and closed with gain. On futures side, -2.19% open interest cut suggest short covering. On option side, 8000 call options writing was seen which is strong resistance on upside. For tomorrow, traders keep bearish view and follow sell on rise view with strict stop loss 8060 for target 7900 and below. Option traders can buy 8000 put option with same stop loss.
BANKNIFTY Sep. expiry future last closed at 15,885 with loss of 13 points. In intraday BANK NIFTY, future hit high at 15,994 while low was at 15,855. Total 150 points intraday range and closed with loss. On futures, side -7.51% open interest cut suggests another profit booking on higher level. On option side 16,500 call options writing has been seen. For tomorrow, traders below 16k keep sell on rise view for target 15,800 to 15,600. Option traders can buy 16k put options with strict stop loss as your risk profile.
India VIX active future last closed at 1330 with no trading activity.
Bharti Airtel Limited stock closed at 414 with gain. In intraday stock hit high at 418 while low was near 412. For intraday, traders can go short on stock near 418-420 with stop loss 430 for target 400 on downside.