premarket nifty banknifty f&O analysis and trading tips
Nifty future today closed at 8438 with loss of 18 points. In intraday nifty future made high around 8477 while low was at 8426. Total 50 points intraday range and closed with loss. Negative open interest suggest profit booking ahead of Greece referendum. Here expect correction and consolidation and nifty might test major support of 8260. Above 8260 keep buy on correction strategy for nifty future. On upside this series might show 8580 plus levels as momentum still strong bullish. Option side 8600 call option writing seen so for tomorrow traders can buy 8600 put option for intraday trade.
Banknifty future today closed at 18580 with gain of 26 points. In intraday banknifty future made high around 18627 while low was at 18491. Total almost 150 points intraday range and closed with gain. 3% open interest addition seen today. Here also momentum is bullish but correction is due as indicators are in overbought zone. So expect correction and consolidation. Above 18k keep buy and accumulate view for expiry target 19050.
In nifty 50 index, BOSCH and IDEA are today’s top gainers with 3% gains. While TATAMOTORS and HINDALCO lost 2% on fresh selling. In future and option segment, HINDPETRO and IBULHSGFIN rallied almost 6%. While AUROPHARMA and UNITECH are down by 3%.
For tomorrow, free stock tips will be for SBI. Sell SBI stock around 270 with stop loss 275 for target 260.