Trading ideas for 22/06/2011

INTRA CALLS WILL BE IN COMMENT SECTION AFTER 11AM

Nifty has broken all its support line.


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CASH MARKET

FII -563
DII +430

FII DERIVATIVES

Index +492
Option +280
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India VIX : 21.31 down by 0.87 points
Call OI : 55455600
Put OI : 51183650
PCR : 0.92
SMR : 23.09 (Bearish (Part Booking of Shorts recommended)

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Nifty Open Interest for June stands at 2,52,29,050 up by 8,97,050 with decrease in price (Huge Short Buildup)

Bank Nifty Open Interest for June stands at 13,56,300 down by 2,10,250 with decrease in price (Huge Long Liquidation)-------------------------------------------------------------------------------------------

For 22/06/11 NF may take support at 5240

Above 5240 NF may rally up to 5290

Below 5240 NF may correct up to 5190
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NIFTY LEVELS

Nifty future's projected high and low for next session is 5290 and 5190 (use this projection with other indicators). Nifty future's immediate support now comes at 5240 zone. If sustains that zone then it will towards 5300 zone. Crossover and sustenance above 5300 will show buying to 5345 level itself. But if cannot sustain above 5240 level it will again retest 5190 and this time below 5190 a real free fall will be seen which may take Nifty future upto 5140 zone.

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OPTION DATA ANALYSIS

5300 looks resistence and 5200 is support

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Expected Bullish Stocks For 22/06/2011: ONGC, APOLLOTYRE, STER, TCS.

Expected Bearish Stocks For 22/06/2011: IDEA, BHEL, ICICIBANK, ORCHIDCHEM, SKUMARSYNF.

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