Nifty Sep future today closed at 7779 with heavy loss of 201 points. In intraday nifty future hit high around 8013 while low was at 7776. Total almost 250 points intraday range and closed with complete selloff. 7% drop in open interest shows strong profit booking. 8000 call option writing is seen in intraday. For tomorrow 7620 and then 7550 are strong support zones as well as target zones for this fall. On upside 7930 is stop loss as well as strong resistance.
Banknifty Sep future today closed at 16927 with loss of 610 points. In intraday banknifty future hit high around 17640 while low was at 16920. Total 700 points plus intraday range and closed with sharp selloff. 17% open interest cut suggest strong profit booking. Banknifty 17500 call options writing seen. For tomorrow 17150 spot is resistance and 16200 and then 15400 are strong support zones as well as targets.
In nifty 50 stocks, HINDALCO and VEDL lost 7% each while WIPRO and INFY closed flat. In F&O stocks, MINDTREE and HEXAWARE closed with 2-3% gains and AMTEKAUTO and MOTHERSUMI closed with 8 to 12 % loss. In buzzing stocks, RUSHIL and INDLMETER closed with 18 to 20% gains.
For tomorrow, free stock tips is buy VST Industries Limited stock around 1480 with stop loss 1450 for target 1550+.