nifty future and market intraday outlook for tomorrow
Nifty future on 8th June 2015 closed at 8043. Today nifty future opened at 8113, hit high at 8127 and seen continuation of selling pressure and one side rally on very bearish note. Intraday low was around 8031 and closed near it with negative outlook for tomorrow. Today’s nifty future traded volume was 9421050. For tomorrow 8090 is intraday stop loss and 7950 to 7920 is target zone. Option traders can buy nifty 8100 put option for intraday with same stop loss.
Banknifty future today closed at 17398 with loss of 0.8%. In intraday banknifty high was at 17580 and low was at 17335. Total 250 points intraday range and another weak closing on continuation of selling session. Today’s bank nifty futures traded volume was 2647175. For tomorrow banknifty outlook bearish and expect intraday target at 17200 with stop loss of 17550. Option traders use 17500 put options for buying and accumulation with strict stop loss.
Today in nifty 50, Tata power and NMDC are top gainers as they bounce back from oversold zones. While cairn India and PNB closed with loss of almost 4%. Banking sector is under pressure and expect this mood will continue tomorrow. Today sun TV cracked by 21% and added panic o selling pressure. ADANIENT hit fresh 52 weeks low and closed at 100 rupee level. For tomorrow buy M&M stock around 1180 with stop loss of 1155 for intraday target of 1235.