Trading ideas for 15/07/2011

Trading ideas for 15/07/2011(Friday)

Sellers came around 5650 for a roller coaster ride. Nifty lost all the gain in the last hour

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FII DERIVATIVES
Index Future	Index Option	Stock Future	Stock Index
-105	+93	+169	-80
FII Cash	+211
DII Cash	+511

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India VIX : 19.97 up by 0.45 points
Call OI : 40062600
Put OI : 47477150
PCR : 1.185
SMR : 16.85
Advance / Decline :

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Intraday support and resistance:

S2	S1	Pivot	R1	R2
5480	5540	5595	5660	5705

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Weekly support and resistance:

S2	S1	Pivot	R1	R2
5540	5605	5665	5725	5800

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Nifty Open Interest for July stands at 2,15,75,400 down by 4,81,250 with increase in price (Huge Short Covering)

Bank Nifty Open Interest for July stands at 10,32,875 up by 67,600 with increase in price (Long Buildup)

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For 15/07/11 NF may take support at 5590

Above 5590 NF may rally up to 5640

Below 5590 NF may correct up to 5560

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NIFTY LEVELS

Nifty future's projected high and low for next session is 5540 and 5650 (use this projection with other indicators). Nifty future's immediate support now comes around 5590 zone. If sustains that zone then it will towards 5630 zone. Crossover and sustenance above 5630 will show buying to 5670 level itself. But if cannot sustain above 5590 level it will again retest 5560 and this time below 5560 a real free fall will be seen which may take Nifty future upto 5505 zone.

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OPTION DATA ANALYSIS


As per OI Table 5400 to 5700 witnessed put writing while 5600 to 5800 calls were also written. 5500 has a very strong support falling below that will take nifty a direct dive to 5300 level. 5700 have a decent resistance while 5600 is still 50/50 chance.Range for this series as per Option Table now is back to 5480 - 5690 with 5565 as the Pivot

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Expected Bullish Stocks For 15/07/2011: IVRCLINFRA, SREINFRA, PFC, TECHM, DENABANK, SESAGOA.

Expected Bearish Stocks For 15/07/2011: INFY, BAJAJ-AUTO, BHEL, GSPL .