free stock market outlook for 11 aug 2015
Nifty Aug future today closed at 8521 with loss. In intraday, nifty future hit high around 8647 while low was at 8503. Total 140 points intraday range and strong profit booking. 1.5% cut in open interest support profit booking by strong hands. Option side, nifty 8700 call options writing seen. For tomorrow below 8535 expect bearish momentum to continue while above it expect short covering rally and recovery up to 8615.
Banknifty Aug future today closed at 18874 with loss of 106 points. In intraday, banknifty future hit high around 19149 while low was at 18845. Total 300 points intraday range and closed with sharp loss on profit booking. 6% addition in open interest suggest short addition in today’s trade. Option side, banknifty 19500 call options writing continues. Below 19980 keep short view and expect downside up to 18700 to 18500.
In nifty 50 stocks, BHEL and HEROMOTOCO closed with almost 2% gains. While ONGC and TATAMOTORS tumbled by 3%. In F&O segment, DIVISLAB and JINDALSTEL closed with 5% gains. While JPASSOCIAT and JPPOWER lost 7%. In buzzing stocks, NIPPOBATRY and TIPSINDLTD closed with 19-20% gains.
For tomorrow, free intraday tips will be for HCLTECH. Buy HCLTECH stock around 930 with stop loss 910 for target 980-990.