Asian Indices trading in green today and so Sensex, Nifty and other indexes may bounce back. A day trader can go long on Nifty for a target of 10600 and keep Stop Loss at 10400. Crude oil is also correcting and is a good sign for equity markets especially for crude oil dependent companies. Sectors like aviation, oil marketing, and paint industry likely to perform today. Check out more stock market intraday trading tips – 08 Feb 2018.
Today’s range for Nifty50 is 10400 to 10600 and BankNifty is 25450 to 26000 and so trade accordingly.
FII and DII Activity
Foreign institutional investors (FIIs) sold shares worth Rs. 1022.50 crore and domestic institutional investors (DIIs) bought shares around Rs 461.19 crore in the Indian stock market.
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Stock Market Intraday Trading Tips – 08 Feb 2018
Equity, Future & Options, Commodity & Currency
Equity Intraday Trading Tips – 08 Feb 2018
Long Asian Paints for a Target of 1150, and keep Stop Loss @ 1109
BUY Spicejet for a Target of 145, and keep Stop Loss @ 132.50
Long Gail for a Target of 472, and keep Stop Loss @ 458.50
Future & Options (Put/Call) Day Trading Tips
Long Nifty 22 February 2018 CE 10500 (Call Options Trading) for a Target of 215, and keep Stop Loss @ 120
Commodity Day Trading Tips
Short Crude Oil 16 February 2018 Future for a Target of 3910, and keep Stop Loss at 4000
Currency Day Trading Tips
Long USDINR 26 February 2018 Future for a Target of 64.60, and keep Stop Loss @ 64.35
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Author: Ratan Kumar
Ratan Kumar, an enthusiast stock market trader & blogger. Forecasting stock market moves with the use of technical analysis since 2008. For the technical trader & investor, new or experienced, he provides legitimate and valuable advisory from day trading to long-term investment horizon and helped thousands of investors to make money out of stock market.