Nifty future last closed at 8269 with loss of 9 points. In intraday nifty future hit high around 8319 while low was at 8212. Total 110 points intraday range and closed with loss. As expected, we have seen intraday sell off and lower level near 8200. Here keep sell on rise view with strict stop loss above 8380 spot. For positional short sellers 8390 spot is stop loss. On downside, 8200 to 8150 remain as targets. Option traders can buy 8300 put option on decline with stop loss 8390.
Bank nifty future last closed at 18743 with loss of 21 points, in intraday banknifty future recorded high around 18870 while low was around 18615. Total 250 points intraday range and index closed with loss. On option side 19500, call options strong writing seen. On future side, +4.99% additions in open interest suggests some buying on lower levels. For Monday below 19100, keep bearish or sell on rise view for banknifty future with strict stop loss in place.
For tomorrow, our stock pick will be IDFC Limited. Today IDFC stock closed at 155 with gains. In intraday stock made high around 155 while low was around 152. For Monday, traders can sell IDFC stock around 158, zone with stop loss 162 for target 150+ in intraday.
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