Trading ideas for 22/07/2011

Trading ideas for 22/07/2011(Friday)

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FII DERIVATIVES
Index Future	Index Option	Stock Future	Stock Index
-150	-125	-107	+19
FII Cash	-577
DII Cash	+408

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India VIX : 18.75 down by 0.36 points
Call OI : 49466950
Put OI : 48217450
PCR : 0.975
SMR : 19.24

5DEMA: 5571
10DEMA: 5580
20DEMA: 5569
50DEMA: 5569
RSI (15 days): 47.94
Parabolic SAR: 5708

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Intraday support and resistance:

S2	S1	Pivot	R1	R2
5505	5525	5552	5567	5596

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Weekly support and resistance:

S2	S1	Pivot	R1	R2
5420	5501	5555	5657	5735

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Nifty Open Interest for July stands at 2,06,42,000 down by 9,43,150 with decrease in price (Huge Long Liquidation)

Bank Nifty Open Interest for July stands at 10,15,325 down by 49,925 with decrease in price (Long Liquidation)

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For 22/07/11 NF may take support at 5530

Above 5530 NF may rally up to 5570

Below 5530 NF may correct up to 5490

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NIFTY LEVELS

Nifty future's projected high and low for next session is 5580 and 5490 (use this projection with other indicators). Nifty future's immediate support now comes around 5530 zone. If sustains that zone then it will towards 5560 zone. Crossover and sustenance above 5560 will show buying to 5600 level itself. But if cannot sustain above 5530 level it will again retest 5490 and this time below 5490 a real free fall will be seen which may take Nifty future upto 5460 zone.

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OPTION DATA ANALYSIS

As per OI Table 5500, 5600,5700 and 5800 calls were written while still 5500 and 5400 put were also written and profit booking was seen in 5600 and 5700 puts. Range for the series was getting narrow each day  5490 to 5590. Still no unwinding is seen in 5500 put which is the only good news for bulls.

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Expected Bullish Stocks For 22/07/2011: NATIONALUM, HEROHONDA, SUZLON, IGL, .

Expected Bearish Stocks For 22/07/2011: BIOCON, YESBANK, GMRINFRA, JSWENERGY, EXIDEIND.