Trading ideas for 29/07/2011

Trading ideas for 29/07/2011(Friday)

Nifty may find support at 5460-5475. Long can be tried with Strict SL. 5430

---

FII DERIVATIVES
Index Future	Index Option	Stock Future	Stock Index
-481	+228	-326	-24
FII Cash	+64
DII Cash	+409

---

India VIX : 18.51 up by 0.26 points
Call OI : 25346900
Put OI : 25978600
PCR : 1.025
SMR : 18.06

5DEMA: 5553
10DEMA: 5572
20DEMA: 5572
50DEMA: 5565
RSI (15 days): 43.99

---

Intraday support and resistance:

S2	S1	Pivot	R1	R2
5455	5474	5495	5510	5526

---

Weekly support and resistance:

S2	S1	Pivot	R1	R2
5490	5565	5605	5677	5718

---

The PCR for this new series is right now is just above 1 at 1.025. Nifty OI was up by 53.6 lacs mainly due to 100% roll over and huge addition of shorts to next series.

---

For 29/07/11 NF may take support at 5460

Above 5460 NF may rally up to 5505

Below 5460 NF may correct up to 5430

---

NIFTY LEVELS

Nifty future's projected high and low for next session is 5520 and 5440 (use this projection with other indicators). Nifty future's immediate support now comes around 5460 zone. If sustains that zone then it will towards 5510 zone. Crossover and sustenance above 5510 will show buying to 5540 level itself. But if cannot sustain above 5460 level it will again retest 5430 and this time below 5430 a real free fall will be seen which may take Nifty future upto 5400 zone.

---

OPTION DATA ANALYSIS

As per August OI Table put writing was seen from 5000 to 5500 while call writing was seen from 5400 to 5700. 

---

Expected Bullish Stocks For 29/07/2011: ARVIND, MPHASIS, IGL, GTL, ITC.

Expected Bearish Stocks For 29/07/2011: JETAIRWAYS, TTKPRESTIG, BRFL, MUNDRAPORT.