Nifty building huge support around 5650 to take off.
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CASH MARKET
FII +1131
DII -369
FII DERIVATIVES
Index +731
Option +1022
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India VIX : 18.17 down by 0.04 points
Call OI : 27164350
Put OI : 35199550
PCR : 1.30
SMR : 14.02 (Bullish: Part Booking of Longs recommended)
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Nifty Open Interest for July stands at 2,18,29,400 up by 9,80,900 with increase in price (Huge Long Buildup)
Bank Nifty Open Interest for July stands at 10,51,975 up by 82,350 with increase in price (Long Buildup)
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For 05/07/11 NF may take support at 5630
Above 5630 NF may rally up to 5675
Below 5630 NF may correct up to 5590
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NIFTY LEVELS
Nifty future's projected high and low for next session is 5680 and 5580 (use this projection with other indicators). Nifty future's immediate support now comes around 5630 zone. If sustains that zone then it will towards 5670 zone. Crossover and sustenance above 5670 will show buying to 5710 level itself. But if cannot sustain above 5630 level it will again retest 5605 and this time below 5605 a real free fall will be seen which may take Nifty future upto 5560 zone.
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OPTION DATA ANALYSIS
5500 and 5600 put witnessed some nice writing while 5700 and 5800 call had some writing. Support comes now at 5500 and resistence at 5800.
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Expected Bullish Stocks For 04/07/2011: UNIONBANK, MRPL, VOLTAS, BEML, CESC.
Expected Bearish Stocks For 04/07/2011: OPTOCIRCUI, TATACHEM .
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good morning.........
ReplyDeleteGOOD morning how was your day.
ReplyDeletehmm nuetral :)
ReplyDeleteyeap. its not much movement going on.
ReplyDeletebought reliance 860 call at 22.
ReplyDeletenifty is consolidation at this level for a long time. will buy nifty
ReplyDeletebought nifty at 5635 with todays low SL
ReplyDeleteHi, saw your blog, very good analysis.
ReplyDeleteJust wanted to know your views.
I can see maximum open interest in 5300 Put , 5400 Put. Since they are already very low price i don't see much writing over there.
Are we again heading towards 5350?
It seems this intra pull back is only to hit stop losses
but yesterday nifty added almost 10L open interest and it looks like long and FII are net buyers both in cash and index. so i personally do not see nifty going below 5550. 5300 put its hard to tell whether its long or short but normally everyone presumes its short even thou its around Rs.15 they use to short but not sure unless nifty has to break 5600 which is not happening.
ReplyDeleteregards
time is getting closer. so i am closing my nifty long taken at 5635 now at 5655
ReplyDeleteregards
Well said , I think it's better to wait and watch.. After such high moves in past month we may see a dull week ahead.
ReplyDeleteRegard,
Robin
One more thing. Please check out resurge mines (whenever you get time). seems like a multibagger to me
ReplyDeleteyes i am holding that. bought that could be last week at .55
ReplyDeletethanks
Ok. See you tomorrow during trading hours
ReplyDeletebye enjoy your rest of the day.
ReplyDelete