Market tomorrow : expect selloff after bounce back

Free nifty banknifty stocks tips for tomorrow 16 june 2015

Today nifty future closed at 8005 with 26 points gains. In intraday nifty June future hit high around 8065 while low was at 7944. Total 120 points intraday range and closed with gains but come down significantly from highs. For tomorrow, below 8125 spot traders keep sell on rise view for target 7815. Today on option side, 8100 call option writing was seen suggesting strong hurdle for nifty spot. 7900 is psychological support and if breaks in intraday expect selloff.

Banknifty future today closed at 17396 with loss. In intraday, banknifty future hit high around 17550 while low was at 17320. Total 230 points intraday range and banknifty selling continues. Fresh short build up seen today. On option side, 18000 call option writing continues.

For tomorrow, with stop loss above 17750 spot keep sell on rise view for banknifty future for target 16750 and below.

In nifty 50, POWERGRID and BOB lost 3% each while IDEA and CAIRN closed with 3% plus gains. In F&O market, JPPOWER and JPASSOCIAT rallied 10-11% on news and short covering. While HEXAWARE future and IBULHSGFIN future tumbled by 5% on sharp selling. In small caps, EVERONN and ADLABS rallied by 20 to 16% on positive news flows.

For tomorrow, intraday traders can sell HEROMOTOCO stock around 2520-2530 with stop loss 2560 for target 2400 in intraday.

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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