Trading ideas for 5/08/2011

Trading ideas for 5/08/2011(Friday)

Nifty will open very week around 5270 which is another support break will take to 5190.

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FII DERIVATIVES
Index Future	Index Option	Stock Future	Stock Index
-635	-588	-157	-10
FII Cash	-254
DII Cash	+316

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India VIX : 20.22 up by 0.74 points - Only around 25 its high until it means fear is not there so shorts are not covered.
Call OI : 41883300
Put OI : 36955750
PCR : 0.883
SMR : 22.90 - highly berish

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Intraday support and resistance:

S2	S1	Pivot	R1	R2
5250	5294	5365	5405	5476

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Weekly support and resistance:

S2	S1	Pivot	R1	R2
5298	5396	5548	5640	5796

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• Nifty Open Interest for August stands at 2,36,31,800 up by 6,77,600 with decrease in price (Huge build-up of short)

• Bank Nifty Open Interest for August stands at 12,75,825 up by 72,375 with decrease in price (Shorts build up)

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For 5/08/11 NF may take support at 5280

Above 5345 NF may rally up to 5375

Below 5270 NF may correct up to 5245

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NIFTY LEVELS

Nifty future's projected high and low for next session is 5350 and 5240 (use this projection with other indicators). Nifty future's immediate support now comes around 5280 zone. If sustains that zone then it will towards 5340 zone. Crossover and sustenance above 5340 will show buying to 5370 level itself. But if cannot sustain above 5280 level it will again retest 5260 and this time below 5260 a real free fall will be seen which may take Nifty future upto 5200 zone.

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OPTION DATA ANALYSIS


As per OI Table huge call writing was seen at 5300,5400 and 5500 while put unwinding was seen at 5400 and 5500. Bears took full control. Next support comes only around 5260 levels. 5500 is resistance while 5300 is 50/50 chance. PCR went below 1 which is bearish.

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Expected Bullish Stocks For 5/08/2011: CUMMINSIND, BPCL, IDEA, GAIL..

Expected Bearish Stocks For 5/08/2011: ADANIPOWER, MAX, FEDERALBNK, VIPIND, BOMDYEING, .