nifty hurdle at 8500, below it stay short


Nifty Aug future today closed at 8480 with 8 points loss. In intraday nifty future hit was at 8531 while low was at 8437. Total 90 points intraday range and closed with loss. As expected 8500 spot level putting pressure on market blow it market outlook remain bullish or sluggish. Almost 2% cut in open interest suggest profit booking. Nifty 8500 call option writing seen today. For tomorrow with stop loss above 8500 spot keep short view on nifty for target 8340 and below.
Banknifty Aug future today closed at 18810 with loss of 33 points. In intraday, banknifty future hit high around 18895 while low was at 18614. Total 300 points intraday range and closed with loss. 5% drop in open interest shows investors booked previous profits. Banknifty 19000 call option writing continues. On downside 18600 spot is major support and above it keep buy and accumulate view.
In nifty 50 stocks, TATASTEEL and BPCL closed with 3-4% gains while GAIL and COALINDIA lost 4-5%. In F&O segment, SRF and ASHOKLEY rallies 6% while GAIL and SUNTV lost 5%. In buzzing stocks, TATAELXSI and GUFICBIO locked to 20% circuit.
For tomorrow free stock tips will be buy Harrisons Malayalam Limited stock around 62 with stop loss 60 for target 68.

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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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