nifty banknifty TCS stock tips for 24 dec 2014
Nifty future last closed at 8265 with loss of 68 points. In intraday nifty future hit high around 8370 while low was at 8256. Total 125 points intraday range and closed with loss. As expected sell-off experienced near resistance of 8380. Below 8380, spot keep Outlook bearish and follow sell on rise strategy. For tomorrow go short on rise with stop loss above 8380 and expect target 8250 to 8200 on downside. Same strategy can be applied fro January futures with strict stop loss of 8380 nifty spot. Option trader’s use next month 8400 put option for the same.
Bank nifty future last closed at 18617 with loss of 141 points, in intraday banknifty future recorded high around 18815 while low was around 18570. Total 250 points intraday range and index closed with loss. On option side 19000, call options strong writing seen. On future side, -32% drops in open interest suggests near expiry rollover and profit bookings. For tomorrow, stay short with stop loss above 18850 for target 18500 and below.
For tomorrow, our stock pick will be Tata Consultancy Services Limited. Today TCS stock closed at 2517 with gains. In intraday stock made high around 2536 while low was around 2494. For tomorrow, traders can buy TCS stock around 2500-2510, zone with stop loss 2480 for target 2580+ in intraday.
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