market technical : below 8350 next support at 8260

free nifty bank nifty stock tips for tomorrow Thursday 9th july

Nifty July future today closed at 8368 with loss of almost 150 points. Today nifty fut intraday high was at 8464 while low was at 8342. Total 130 points intraday swing and closed at given target of 8350. 2% cut in open interest suggest profit booking under china fear-factor. Nifty 8500 call option writing continues as expected. Here below 8350 next major support as well as target will be 8260. If nifty gives daily closing below 8260 then there are more chances of fresh new low for nifty. Below 8260 traders can expect 8050 to 7730 zones as short to medium term nifty target.
Bank nifty future today closed at 18499 with loss of 307 points. 7% massive open interest cut suggest strong hands pulled profit from market. 19500 call option writing continues. Today we seen 300 points intraday volatility with gap down opening. Here this correction might test 18k level. Closing below 18k means fresh bear grip for banknifty future with price target 17400.
In nifty 50 stock, VEDL and YESBANK tumbled by 8% while there is no greener in nifty today. In F&O segment, same VEDL and YESBANK are top losers while RCOM and JISLJALEQS gained 3-4%.
For tomorrow, free intraday tips will be for BHARTIARTL. Buy bharti airtel stock around 425 with stop loss 418 for target 440 in intraday. In medium term 480 can be expect if sustain above 400 rupee level.

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Pramod Baviskar

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