free trading tips for tomorrow 12 june 2015
Nifty future today closed at 7960 with huge loss of 160 points or almost 2% down in intraday. Today nifty future high was at 8151 while low was at 7950. Total 200 points intraday range or 2.5% intraday volatility move and closed at day’s low with strong bearish outlook. On option side, 8200 call options heavy writing seen and that is now strong resistance for short term view. For tomorrow 7920 spot is target if gives daily closing below it then expect 7800 and below levels on spot nifty. Discount in nifty future continues suggesting bulls burned their hands and no one want to touch it again!!
Banknifty future today closed at 17240 with loss of 436 points or 2.5%. In intraday banknifty hit high around 17800 while low was at 17236. Total 640 points intraday swing or 3.5% intraday volatility for this index and closed at low with strong bearish outlook. Banknifty is heading towards 16750 levels. Today banknifty future closed with 64 points discounts reflecting bearish nature of market. On option side banknifty 18000 call option writing seen which will now strong hurdle from short to medium term perspective.
In nifty 50, idea and Tata power tumbled by 5-6% on profit booking from long term investors. While Vedanta and TECHM closed with 1% gains. Out of 50 46 stock closed with losses suggesting bearish grip of market. In gainers, AstraZeneca lab rallied 20% on news flow. Advani hotel continues it Bull Run with 17% gains. While in losers bhushan steel continue bear rally with another 10% drop. In F&O side, JINDALSTEL and UNITECH down by 7 to 8%. While DISHTV and BAJFINANCE closed with 2% gains near there 52 weeks highs.
For tomorrow, sell GAIL stock near 400 with stop loss 406 for intraday target of 384 to 380 rupees.