market forecast : profit booking might continue

free nifty banknifty stock tips for 24 july 2015

Nifty July future today closed at 8604 with loss of 44 points. In intraday nifty fut hit high around 8667 while low was at 8580. Total 90 points intraday range and closed with loss on profit booking. 3.5% cut in open interest suggest profit booking pressure on market. On option side, 8700 call option writing seen which will be strong resistance for Aug series. For tomorrow 8500 and 8470 are support zones as well as target levels for this corrective move.
Banknifty July future today closed at 18895 with loss of 162 points. In intraday banknifty hit high around 19144 while low was at 18882. Total 300 points intraday range and closed with loss. No significant action seen in open interest but on option side 19500 call option writing continues. On downside there are multiple support zones at 18735-18655 and then 18580. Banknifty might test them. Banknifty below 18750 might enter in downcycle.
In nifty 50 stocks, BAJAJAUTO and LUPIN lost more than 5% while CAIRN rallied by 6% on positive news flow and TATAMOTORS closed with 4% on value buying. In F&O segment, SUNTV and TATAMTRDVR closed with 7-8% gains. While in loser’s side, JSWENRGY and BAJAJAUTO lost 5-6%. In buzzing stocks, TCIDEVELOP and GENESYS closed with 20% circuit.
For tomorrow, free intraday tips will be for COAL INDIA. Sell CIL stock around 435 with stop loss 441 for target 425-420 in intraday.

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Updated: 23/07/2015 — 10:30 PM

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Pramod Baviskar

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