Nifty Sep future today closed at 7822 with loss of 54 points. In intraday nifty future hit high around 7887 while low was at 7801. Total 86 points intraday range and as expected profit, booking is seen in nifty future. For tomorrow outlook remain subdue. On downside, nifty spot has support zones around 7785 and then 7670 while on upside 7940 remain as major resistance and target level on short covering rally. Half a percent cut in open interest suggesting profit booking and option side nifty 8000 call option writing seen in intraday.
Banknifty Sep future today closed at 16723 with loss of almost 200 points. In intraday banknifty future hit high around 16930 while low was at 16700. Total 230 points intraday range and closed with loss. 2.25% cut in open interest suggest profit-booking pressure in market. Option side, 17000 call options writing was seen. For tomorrow, banknifty might show range bound moves. On downside, 16600 and 16225 spot levels are support zones while on upside 16980 and 17260 spot are strong resistances.
In nifty 50 stocks, TECHM and HINDUNILVR stock closed with 1-2% gains and TATASTEEL and VEDL lost 5-6%. In F&O stocks, AJANTPHARM and MCLEODRUSS closed with 3 to 4% gains and BHARATFORG and TATASTEEL lost 6% each. In buzzing stocks, PFRL and NBVENTURES closed with 18% gains.
For tomorrow, free stock tips is buy Godavari Power and Ispat limited stock around 65 with stop los 60 for target 76 in weeks’ period.