01/08/2011

Trading ideas for 1/08/2011(Monday)


Nifty consolidating and have a positive divergence in hourly chart and getting support at 5470 which provided support previously but caution needed because of US debt vote. Holding 5480 level nifty may try 5525 and above is bullish whereas close below 5430 is bearish.

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FII DERIVATIVES
Index Future	Index Option	Stock Future	Stock Index
-904	+1453	+33	-8
FII Cash	-464
DII Cash	+411

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India VIX : 19.77 up by 1.26 points
Call OI : 29986400
Put OI : 32914600
PCR : 1.098
SMR : 18.01
ADV/DEC 481/918

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Intraday support and resistance:

S2	S1	Pivot	R1	R2
5418	5452	5485	5515	5555

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Weekly support and resistance:

S2	S1	Pivot	R1	R2
5295	5392	5545	5635	5795

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• Nifty Open Interest for August stands at 1,95,44,150 up by 6,31,650 - Short Build-up

• Bank Nifty Open Interest for August stands at 9,12,600 up by 38,000 -  Long Build-up

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For 1/08/11 NF may take support at 5485

Above 5485 NF may rally up to 5520

Below 5485 NF may correct up to 5425

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NIFTY LEVELS

Nifty future's projected high and low for next session is 5430 and 5530 (use this projection with other indicators). Nifty future's immediate support now comes around 5470 zone. If sustains that zone then it will towards 5505 zone. Crossover and sustenance above 5505 will show buying to 5540 level itself. But if cannot sustain above 5470 level it will again retest 5430 and this time below 5430 a real free fall will be seen which may take Nifty future upto 5380 zone.

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OPTION DATA ANALYSIS


As per OI Table good addition was seen in 5500, 5600, 5700 and 5800 call while 5400, 5300, 5200, 5100 and 5000 put also got written. After the fall which started from RBI rate hike yesterday could be the first day we saw some put writing which means at least for the time being there could be some support at 5400.

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Expected Bullish Stocks For 1/08/2011: BATAINDIA, IDEA, GTL, RCOM, DENABANK, AXISBANK.

Expected Bearish Stocks For 1/08/2011: ADANIENT, ADANIPOWER, NMDC, BGRENERGY .