Nifty Sep future today closed at 7869 with gain of 80 points. Today nifty future hit high around 7888 while low was at 7765. Total almost 125 points intraday range and positive closing on another short covering round. 1.5% cut in open interest shows the same. Option side 8000 call option writing seen. For tomorrow 7885 spot is major resistance and also fresh short entry zone with stop loss. Expect correction or retracement up to 7720 on profit booking.
Banknifty Sep future today closed at 16899 with gain of 270 points. Today banknifty future hit high around 16967 while low was at 16522. Total 450 points intraday range and closed with gain on short covering rally. 5.5% open interest addition suggest value buying from strong hands. Option side, banknifty 17000 call option writing seen in intraday. Banknifty is trading at upper range of band and correction or profit booking is due ahead. 16940 is best short entry point with stop loss for minimum target of 16450.
In nifty 50 stocks, VEDL and NTPC rallied 5% while CAIRN and IDEA lost 1-2%. In F&O stocks, JUSTDIAL and AMTEKAUTO closed with 12-13% gains. While PAGEIND and BEL closed with 2-3% drop. In buzzing stocks, RUSHIL and VENKEYS sees 205 circuit.
For tomorrow free stock tips will be buy S.E. Investments Limited stock around 270 with stop loss 250 for target 310+ in 1-2 weeks’ time frame.