market outlook and free trading tips for tomorrow 26 june 2015
Nifty july future today closed at 8435 with gains of 65 points. Today nifty future hit high around 8445 while low as at 8351. Total almost 100 points intraday range and market showing resilience to profit booking. 54% open interest build up suggest long rollovers. 8500 call option writing continues. Here above 8310 spot keep buy on dips strategy for market for next week. Indicators are overbought so some correction and consolidation is possible. Both price as well as time wise. Only shock from Europe might show high volatility and sudden crash in market so keep tight stop losses in place.
Banknifty future of July expiry today closed at 18525 with gains of 150 points. Today banknifty high was at 18559 while low was at 18310. Total 260 points intraday range and closed with gain. 84% open interest build up suggest strong long rollers. On option side 18k put option writing suggest strong support at it. Above 18240 spot keep buy and accumulate view with strict stop loss for short term.
In nifty 50, BAJAJAUTO and LT are today’s top gainers while TECHM and WIPRO are today’s top losers. In F&O market, GMRINFRA and AMTEKAUTO rallied 7 to 8% while MINDTREE and ADANIENT lost 4% plus. In small-caps and mid-caps, MMTC and ADVANIHOTR rallied almost 20%.
For tomorrow free stock tips will be NTPC. Buy NTPC stock around 135 with stop loss 132 for intraday target 142.