In last two trading session we have seen some recovery in market but still the level of 8000 will be a big hurdle for Nifty. Nifty Future closed near day high at 7972.20 (high was 7985), so tomorrow positve opening take Nifty Future towards the level of 8020. But may possible that we will see some profit booking on these levels. Since it is the fresh expiry and always we have seen Dec Expiry always volatile so if you are going to do positional trade then please keep strict stop loss in your position and book profit whenever you are getting good profit. Jet Airways, Tata Motors, Maruti Suzuki, Idea, Bharti Airtel may be good stock for intraday trading for tomorrow.
As predicted Nifty Future could not broke the level of 7880 and in second half as it broken the support level of 7800, we have seen penic in market and Nifty Future made low of 7725 and just closed near day low at 7731.95. Tomorrow, if Nifty Futuer able to sustain above 7775 then we can see 7810 to 7830 level in chart. Below 7725 we can see level of 7690 / 7660. Nifty 7800 put and Nifty 7700 put was most attractive option. Nifty 7700 put made high of 60.90 (Day low 20) and Nifty 7800 put made high of 111.90 after making low of 44.55 in morning trade.Nifty 7500 put and Nifty 7600 put may also give good return if tomorrow Nifty Future breaking the level of 7700
BPCL, IDEA, Infosys, Hindalco, Coal India, SBI, Axis Bank may be good stock for intraday trading for tomorrow
Today on, 17 Nov, we have seen some buying in Nifty Future from lower levels but as next week expiry is there, and heavy sell off already we have in the starting of this series, so as per current scenario, it seems tough that Nifty Future will cross the level of 8000 soon. Nifty Future may face resistance around 7930-7950 level in coming days. For tomorrow 7880 may work as a hurdle for Nifty Future. 7800 is not strong support for Nifty Future. Nifty 7800 call and Nifty 7800 put is most active option. Nifty 7900 call may give good return if Nifty cross the resistance level of 7880, then one can buy small quantity of 7900 call with stop loss of 24.
Tata Motors, ITC, Tata Steel, BPCL, Infosys may be good stock for intraday trading for tomorrow.
Nifty down by 15 points closed at 8002.40, again above important support level of 8000 while in intraday it went down to below 8000 but after that we have seen short covering in market. Sensex closed at 26744.69 down by 31 points. Jindal Steel and Power, Hindalco down heavily after supreme court decision. Tomorrow we are expecting Nifty range will be 7980 to 8040.
Heavy sell off we have seen in Indian Market. Nifty and Sensex down by more than 1,5%. Nifty down 128.75 points today and closed at 8017.55, just above important level of 8000. Sensex down by 431.05 points, closed at 26775.69. It is one of the major downfall of Year 2014. Cipla , Tata Motors, Hindalco, Tata Steel etc are the heavy weight stock which are the top loser of market.