Trading ideas for 17/06/2011

INTRA CALLS WILL BE IN COMMENT SECTION AFTER 11AM

Nifty slowly becoming week with no support from world market.


--------------------------------------------
CASH MARKET

FII -599
DII +286

FII DERIVATIVES

Index -532
Option 1309

India VIX : 19.66 down by 0.52 points
Put OI : 53722000
Call OI : 49084550
PCR : 1.09
SMR : 17.96 (Neutral to Bearish)


For 17/06/11 NF may take support at 5380

Above 5380 NF may rally up to 5420

Below 5380 NF may correct up to 5350
-------------------------------------------

NIFTY LEVELS

Nifty future's projected high and low for next session is 5460 and 5340 (use this projection with other indicators). Nifty future's immediate support now comes at 5380 zone. If sustains that zone then it will towards 5420 zone. Crossover and sustenance above 5450 will show buying to 5490 level itself. But if cannot sustain above 5400 level it will again retest 5380 and this time below 5380 a real free fall will be seen which may take Nifty future upto 5340 zone.

OPTION DATA ANALYSIS

Call writer are adding in 5300-5600 and put writer below 5300 have been covering both nifty and bank nifty open interest indicates shorts are being build up.

Expected Bullish Stocks For 15/06/2011: ASHOKLEY, APOLLOTYRE, SUNTV,CENTURYTEX.

Expected Bearish Stocks For 15/06/2011: BANKBARODA, PNB, PFC,IOB.

Buy ANDHRABANK ABOVE - 136 STOPLOSS – 134.70 TARGET –137.35 - 139

Buy JINDALPHOT ABOVE - 178.45 STOPLOSS – 176.85 TARGET – 180.40 – 183.10