Nifty building nice support around 5650 to take off. unless the price goes below 5605 its just a small correction.
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CASH MARKET
FII +825
DII -898
FII DERIVATIVES
Index -158
Option +241
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India VIX : 18.25 up by 0.08 points
Call OI : 28489200
Put OI : 36582900
PCR : 1.28
SMR : 14.21 (Bullish: Part Booking of Longs recommended)
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Nifty Open Interest for July stands at 2,15,72,700 down by 2,56,700 with decrease in price (Long Liquidation)
Bank Nifty Open Interest for July stands at 10,72,200 up by 20,225 with increase in price (Long Buildup)----------------------------------------------------------------------------------
For 06/07/11 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 put witnessed some nice writing while 5700 call had some writing. Support comes now at 5500 and resistance at 5800. not much significant change. As per OI Table 5700CE is right now the primary resistance (added another 4 lacs today) to any up-move with 5800CE still adding on, whereas 5500PE is right now the immediate support with 5400 and 5300 (highest OI) giving good support
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Expected Bullish Stocks For 06/07/2011: HAVELLS, HCLTECH, INFY, TATACHEM, TCS.
Expected Bearish Stocks For 06/07/2011: BHEL, ZEEL, IGL, ESCORTS .
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going to buy nifty once it crosses todays open with todays low as SL.
ReplyDeleteRegards
bought RPower at 117 for short term(few days)
ReplyDeletei have closed my rcom 95 put bought at 2.55 at 3
ReplyDeleteregards
bought JPAssociate 81.6 SL 79
ReplyDeleteRegards
our nifty long got executed
ReplyDeleteGood AfterNoon,
ReplyDeleteBoring day today. Bulls and Bears fighting.
Nifty long? Is it positional?
no. nifty is intraday. already i am holding many calls will try to close reliance call taken on yesterday.
ReplyDeleteregards
I am holding 5900 CE @ 20.
ReplyDeleteCan I average it now ?
personally i do not got for faraway option and do not prefer to average 5900. nifty has to break 5670 zone to have further short covering until then time decay is there. buy price is 20 so u may get that price if nifty breaks 5670 zone then we may see 5750 until then its rangebound and there will be time decay.
ReplyDeleteregards
Thanks for your suggestion.
ReplyDelete