Nifty Sep future today closed at 7861 with gain of 64 points. In intraday nifty hit low around 7713 and high was at 7889. Total 175 points intraday range and closing with gain on short covering as well as value buying. 14% open interest cut shows strong short covering. Option side 7700 put option writing is seen. Traders here watch 7780 support and on upside 8040 to 8085 resistance. Keep buy near support and sell near resistance strategy with strict stop loss in place.
Banknifty Sep future today closed at 17322 with gain of 32 points. In intraday banknifty future hit high around 17325 while low was at 16750. Total almost 600 points intraday range and closed with gain on sharp short covering. 15% cut in open interest reflect that. 17000 put option writing is seen in intraday. Traders here watch support 16850 and resistance zone of 17600 to 17850 for range bound trading.
In nifty 50 stocks, CAIRN and VEDL closed with 3 to 5% gains and NMDC and BOSCH lost 4% each. In F&O stocks, JPASSOCIAT and IDBI rallies by 10 to 12%. While JSWSTEEL and NMDC lost 4% each. In buzzing stocks, ONELIFECAP and DISHMAN closed with 18 to 20%.
For tomorrow free stock tips is buy Hubtown Limited stock around 120-125 zone with stop loss below 110 for target 150+ in weeks.