Trading ideas for 28/06/2011

INTRA CALLS WILL BE IN COMMENT SECTION AFTER 11AM

With FII pumping money market moves according to their will. 5505 will have good support and small resistance at 5560 above that further short covering expected around 5620 will give resistance.


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CASH MARKET

FII +1447
DII -766

FII DERIVATIVES

Index -182
Option +497
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India VIX : 19.99 up by 0.67 points
Call OI : 42675000
Put OI : 64045150
PCR : 1.50
SMR : 13.32 (Bullish: Part Booking of Longs recommended)

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Nifty Open Interest for June stands at 1,95,45,900 down by 23,45,400 with increase in price (Huge Short Covering with 100% roll over)


Bank Nifty Open Interest for June stands at 9,89,900 up by 26,325 with increase in price (Long Buildup in June and July Series)
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For 28/06/11 NF may take support at 5520

Above 5520 NF may rally up to 5560

Below 5520 NF may correct up to 5490
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NIFTY LEVELS

Nifty future's projected high and low for next session is 5480 and 5600 (use this projection with other indicators). Nifty future's immediate support now comes at 5520 zone. If sustains that zone then it will towards 5560 zone. Crossover and sustenance above 5560 will show buying to 5600 level itself. But if cannot sustain above 5520 level it will again retest 5390 and this time below 5390 a real free fall will be seen which may take Nifty future upto 5360 zone.

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OPTION DATA ANALYSIS

5500 calls have been covered 5500 to 5600 puts are written. now the support comes ar 5500 and resistence at 5700. looks positive

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Expected Bullish Stocks For 22/06/2011: OIL, JPPOWER, GAIL, RANBAXY.

Expected Bearish Stocks For 22/06/2011: NATIONALUM, CONCOR, .

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