free premarket trading tips and analysis of market
Nifty Sep future today closed at 7734 with gain of 161 points. Nifty had taken support of s1 at 7550 and given strong bounce back on short covering. Today nifty hit high around 7753 while low was at 7558. Total 200 points intraday range and closed with strong gains. 1% open interest addition seen. Nifty 7800 call option writing is seen in intraday. For tomorrow nifty spot has strong supply zone around 7710 then 7780 while on downside 7550 is bottom support as well as stop loss for long positions in nifty.
Banknifty Sep future today closed at 16413 with gain of 590 points. In intraday banknifty hit high around 16490 while low was at 15833. Total 700 points intraday range and strong closing on sharp short covering in banking stocks. 8% drop in open interest shows strong short covering. Banknifty 17000 call option writing is seen in intraday. For tomorrow banknifty spot has support at 16230 and then 15950 while on upside 16580 and 16880 are strong resistances. For swing traders 16150 is trailing stop loss for long positions.
In nifty 50 stocks, GAIL and YESBANK closed with 7% gains and CAIRN and HINDUNILVR closed with 2% losses. In F&O stocks, JSWENERGY and CROMPGREAV closed with 8 to 10% gains. In losers AMTEKAUTO and KSCL lost 5% each. In buzzing stocks, TGBHOTELS and JINDWORLD closed with 16 to 20% gains.
For tomorrow, free stock tips will be buy TCI Developers Limited stock around 260 with stop loss 240 for target 300 in medium terms.