premarket trading strategy for tomorrow 2 july 2015
Nifty July future closed at 8454 with gains of 77 points. In intraday nifty fut hit high around 8480 while low was at 8360. Total 120 points intraday range and nifty fut achieved given target of 8450. Next target will be 8620 but indicators are now overbought condition so correction or consolidation is due here. 4% plus open interest addition suggest strong hand buying. Option side, 8500 and 8600 call option writing continues. For tomorrow 8450 spot is support and above it keep long view for target 8510 and then 8620 positional.
Banknifty July future closed at 18550 with gains of 255 points. In intraday banknifty fut hit high around 18615 while low was at 18230. Total almost 400 points intraday range and closed with gain. Almost 9% open interest build up seen. 19000 call option writing seen. For tomorrow trail stop loss at 18400 for target 18880 and above.
In nifty 50 index, BHEL and BOB rallied 4% plus. While ZEEL and lupin closed with almost 1% loss on profit booking. In F&O side, IGL and CEAT rallied by 8-9% on news flow. While MCLEODRUSS and TITAN closed with 1-2% loss on profit booking.
For tomorrow, free intraday tips will be for MARUTI. Buy MARUTI stock around 4000 with stop loss 3950 for intraday target 4150.