Trading ideas for 24/06/2011

INTRA CALLS WILL BE IN COMMENT SECTION AFTER 11AM

Nifty got good support at 5300 and good news in REL and more orders for LT took market up


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CASH MARKET

FII
DII

FII DERIVATIVES

Index
Option
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India VIX : 19.50 down by 1.39 points
Call OI : 52014750
Put OI : 52327250
PCR : 1.01
SMR : 19.38 (Neutral: Part Booking of Shorts recommended)
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Nifty Open Interest for June stands at 2,42,87,950 down by 6,11,700 with increase in price (Short Covering)
Bank Nifty Open Interest for June stands at 11,56,950 down by 80,575 with increase in price (Short Covering)-------------------------------------------------------------------------------------------

For 24/06/11 NF may take support at 5310

Above 5310 NF may rally up to 5340

Below 5310 NF may correct up to 5260
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NIFTY LEVELS

Nifty future's projected high and low for next session is 5360 and 5240 (use this projection with other indicators). Nifty future's immediate support now comes at 5310 zone. If sustains that zone then it will towards 5330 zone. Crossover and sustenance above 5330 will show buying to 5360 level itself. But if cannot sustain above 5310 level it will again retest 5260 and this time below 5260 a real free fall will be seen which may take Nifty future upto 5220 zone.

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OPTION DATA ANALYSIS

5300 getting support and 5500 is Resistance

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Expected Bullish Stocks For 22/06/2011: TATAPOWER, BPCL, ADANIPOWER, .

Expected Bearish Stocks For 22/06/2011: WELCORP, ZEEL, GTL.

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