Trading ideas for 4/08/2011

Trading ideas for 4/08/2011(Thursday)

Staying above 5430 nifty will try to go above 5525 and finishing below 5400 is berish

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FII DERIVATIVES
Index Future	Index Option	Stock Future	Stock Index
-1354	+157	-182	-3
FII Cash	-869
DII Cash	+422

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India VIX : 19.48 up by 0.33 points
Call OI : 36897600
Put OI : 37320600
PCR : 1.011
SMR : 19.26

20DMA=5569
50DMA=5525  
100DMA=5580

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Intraday support and resistance:

S2	S1	Pivot	R1	R2
5356	5380	5405	5426	5448

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Weekly support and resistance:

S2	S1	Pivot	R1	R2
5300	5392	5546	5336	5794

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• Nifty Open Interest for August stands at 2,29,54,200 up by 20,16,150 with decrease in price (Huge Short Build-up)

• Bank Nifty Open Interest for August stands at 12,03,450 up by 1,90,200 with decrease in price (Short Build-up)

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For 4/08/11 NF may take support at 5430

Above 5438 NF may rally up to 5475

Below 5405 NF may correct up to 5370

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NIFTY LEVELS

Nifty future's projected high and low for next session is 5490 and 5400 (use this projection with other indicators). Nifty future's immediate support now comes around 5430 zone. If sustains that zone then it will towards 5470 zone. Crossover and sustenance above 5470 will show buying to 5510 level itself. But if cannot sustain above 5430 level it will again retest 5405 and this time below 5405 a real free fall will be seen which may take Nifty future upto 5370 zone.

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OPTION DATA ANALYSIS


As per OI Table call writing was seen at 5400, 5500 and 5600 while put writing was seen at 5300 and some writing was also seen at 5400 put.The PCR is just 1.011. Nifty OI was up by 20.16 lacs mainly due to short build-up

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Expected Bullish Stocks For 4/08/2011:INDHOTEL, IDEA, PRAJIND, HINDOILEXP, BANKBARODA .

Expected Bearish Stocks For 4/08/2011: BHARTIARTL, IVRCLINFRA, LT .