Bullet Advice For Indian Stocks Weekly ""foreign funds confidence in Indian economy drive the market forward
BSE Sensex (17064.95) and Nifty (5119.35) closed down by 0.40% and 0.30% respectively last week.Nifty Future June was quoting at 6.60 points discount..Nifty Call Option June 5100 was very active.Support for Sensex is at 16920. Resistance for Sensex is at 17270 .Support for Nifty is at 5075 and resistance at 5180.
The first installment of corporate advance tax falls due on 15 June 2010.Advance tax nos. will be watched carefully. A Empowered Group of Ministers (EGoM) which meets on Thursday, 17 June 2010 may consider freeing petrol prices from government control.
RIL and Tata Steel added Open Interest in June series.Huge position was build up at RIL June Call Option Strike Price 1050.Good build up was also seen at Hindalco June Call Option Strike Price 140.
Strategy for Futures Option players.
1)RIL(1045.05) Lot Size-300 Shares
Buy One Call Option of June Strike Price 1050@20.10 Rs
Sell One Call Option of June Strike Price 1100@6.25 Rs.
Premium .Paid=20.10*300= 6030.00 Rs.
Premium Received=6.25*300= 1875.00 Rs.
Net Premium Paid==6030.00-1875.00.00=4155.00 Rs.
Maximum Profit==1100-1050==50*300=15000.00-4155.00=10845.00 Rs.
Maximum Loss= 4155.00 Rs.
Break Even Price=1063.85
2)Cairn(301.90) June Future-Lot Size 1250 shares.
Buy One Lot June Future @301.90
Sell One Call Option of June Strike Price 320@1.90 Rs.
Premium Received=1.90*1250= 2375.00.00 Rs
Maximum Profit=320.00-301.90=18.10*1250=22625.00+ 2375.00=25000.00 Rs.
Max Loss=Unlimited.
Trend of Major Stocks
STOCK TREND Days WeeklyTrend MonthlyTrend
BHEL.NSBulllish3RisingFalling
ICICIBANK.NSBulllish1FallingFalling
INFOSYSTC.NSBearish3FallingFalling
ITC.NSBearish3FallingRising
MARUTI.NSBulllish2RisingFalling
SBIN.NSBulllish2RisingRising
TATASTEEL.NSBulllish2FallingFalling
TCS.NSBulllish2RisingFalling
Technical indicators of major Stocks
MFI=Money Flow Index
RSI=Relative Strength Index
ADX=Directional Momentum Index
STOCK CLOSE MFI-21 RSI-14 ADX-14
BHEL.NS2392.7551.4657.1216.61
ICICIBANK.NS84643.6745.8318.31
INFOSYSTC.NS2630.7560.8547.6615.77
ITC.NS281.5570.155.615.28
MARUTI.NS138370.9468.0935.03
SBIN.NS2339.949.1958.7315.68
TATASTEEL.NS473.639.9935.9738.5
TCS.NS759.150.6152.8315.83
Trading Idea
1)Biocon(300.30)Buy this stock in decline and trade.
2)BHEL(2395.50) Buy this stock in decline and trade
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