Trading ideas for 14/07/2011

Trading ideas for 14/07/2011(Thursday)


Nifty took support at 50SMA

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FII DERIVATIVES
Index Future	Index Option	Stock Future	Stock Index
+357	-84	+17	-21
FII Cash	+315
DII Cash	-368

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India VIX : 19.52 down by 1.31 points
Call OI : 39929050
Put OI : 45995350
PCR : 1.152
SMR : 16.95
Advance / Decline :

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Intraday support and resistance:

S2	S1	Pivot	R1	R2
5520	5550	5580	5605	5635

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Weekly support and resistance:

S2	S1	Pivot	R1	R2
5540	5605	5665	5735	5790

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Nifty Open Interest for July stands at 2,20,56,650 down by 6,53,100 with increase in price (Huge Short Covering)

Bank Nifty Open Interest for July stands at 9,65,275 down by 25,325 with increase in price (Short Covering)

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For 14/07/11 NF may take support at 5605

Above 5605 NF may rally up to 5765

Below 5605 NF may correct up to 5560

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NIFTY LEVELS

Nifty future's projected high and low for next session is 5680 and 5570 (use this projection with other indicators). Nifty future's immediate support now comes around 5610 zone. If sustains that zone then it will towards 5640 zone. Crossover and sustenance above 5640 will show buying to 5690 level itself. But if cannot sustain above 5610 level it will again retest 5570 and this time below 5570 a real free fall will be seen which may take Nifty future upto 5530 zone.

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OPTION DATA ANALYSIS


As per OI Table 5500 witnessed huge writing along with 5600 while some 5700 call also got written. Now it looks like 5500 will act like a china wall for this series. so it will be very hard for the bears to go below 5500. 5600 is still 50/50 chance. Range can be for this series 5500 to 5800.

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Expected Bullish Stocks For 14/07/2011:GESHIP, DCB, TCS, AREVAT&D, ASIANPAINT, RCOM, GMDCLTD, ASIANPAINT.

Expected Bearish Stocks For 14/07/2011: ONMOBILE, UNITECH, JISLJALEQS .