Trading ideas for 29/06/2011

Trading ideas for 29/06/2011(Wednesday)

INTRA CALLS WILL BE IN COMMENT SECTION AFTER 11AM

Again nifty got resisted and not able to move past 5550


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CASH MARKET

FII +819
DII -575

FII DERIVATIVES

Index +452
Option +976
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India VIX : 19.49 down by 0.50 points
Call OI : 41187250
Put OI : 64149850
PCR : 1.56
SMR : 12.51 (Bullish: Part Booking of Longs recommended)

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Nifty Open Interest for June stands at 1,64,02,100 down by 31,43,800 (July Series added 37,60,450) with increase in price (100% roll over with huge long buildup in July Series)

Bank Nifty Open Interest for June stands at 8,45,075 down by 1,44,825 (July Series added 3,34,825) with increase in price (100% roll over with huge long buildup in July Series)-------------------------------------------------------------------------------------------

For 29/06/11 NF may take support at 5535

Above 5535 NF may rally up to 5565

Below 5535 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 around 5530 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 5530 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

5400,5500 and 5600 puts are been written while 5500 and 5600 calls written but not in a big way. So we may again have some rangebound days. Expiry range could around 5500 and 5600.
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Expected Bullish Stocks For 29/06/2011: MAX, ABB, ASIANPAINT, RPOWER, UNIPHOS.

Expected Bearish Stocks For 29/06/2011: INDIANB, ABGSHIP, AREVAT&D, ADANIPOWER, ADANIENT .

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