Nifty Oct future today closed at 7832 with loss of 64 points. In intraday nifty future hit high around 7929 while intraday low was around 7817 and closed near it. 1% addition in open interest suggest fresh shorts. Nifty 8100 call options writing was seen in intraday. For tomorrow, 7740 is intraday support and 7950 is strong resistance and week channel trend is down so follow sell on rise view for intraday for target 7740. Below 7740 next support as well as target zones will be 7630 and then 7560. An unexpected surprise from RBI might trigger short covering rally for target 8085. So keep tight stop loss in every trade.
Banknifty Oct future today closed at 17201 with loss of 95 points. In intraday banknifty future hit high around 17490 while low was at 17152. Total 300 points intraday range and negative closing on profit booking. 0.21% cut in open interest reflect that and 18000 call options writing is seen. For tomorrow 16850 is support level and 17630 is resistance. Week channel trend is up so keep buy near support strategy with stop loss.
In nifty 50 stocks, VEDL and TATAMOTORS lost 5-6% and DRREDDY and IDEA rallied by 3 to 5%. In F&O stocks, PTC and IDBI rallied by 7% and TATAMOTORS and TATAMTRDVR closed with 6% drop. In buzzing stocks, TGBHOTELS and IFBAGRO closed with 18 to 20% gains.
For tomorrow, free stock tips is buy Remsons Industries Limited stock around 42-41 with stop loss below 38 for target 53 in weeks.