nifty bank nifty stock premarket analysis and trading tips
Nifty July future today closed at 8381 with gains of 62 points. As expected above 8310 we seen sharp short covering as well as buying in market. Right now market is in bullish momentum and expect short term targets at 8450 and medium term target at 8620. Market will remain volatile and trading will not remain easy but above 8310 spot keep buy and accumulate view for nifty. Today fresh 8% open interest addition seen suggesting strong hand buying. Option side, 8500 call option writing continues.
For tomorrow 8450 is first target level. And then 8620 will be next positional target for nifty. For all long positions keep stop loss below 8310 spot.
Banknifty july future today closed at 18280 with gain of 60 points. In intraday banknifty hit high around 18349 while low was at 18040. Total 300 points intraday range and smart recovery at the end. Almost 2% addition seen in open interest. On option side, 19000 call option writing continues. For tomorrow above 18240 spot keep long view for target 18550 and above. Volatility will remain high and trading will not remain easy. Small traders must stay away from market for till 6 of July.
In nifty 50, zeel and idea closed with gains of 3% plus while tcs and techm continue to lose and closed with almost 2% loss. In F&O market, UBL and TATACOMM rallied 5 to 6% while VOLTAS and JSWENERGY closed with 4% loss.
For tomorrow, free stock tips will be BANKBARODA.
Buy BOB stock around 142 with stop loss 138 for intraday target 150-152.