Bullet Advice For Indian Stocks Weekly- union budget will decides the market trend
BSE Sensex (14913) and Nifty (4424.25) closed 1.0% and 1.1 % up respectively
last week.Nifty OI put call ratio was 0.99.Nifty Future July was quoting at 0.4 points premium.Nifty Call Option July 4700 was very active.Support for Sensex is at 14520 and Nifty at 4300.Resistance for Sensex is at 15340 and Nifty is at 4560.Crude oil was at 65.63 $.
Union Budget will be presented on 6the July 2009 by Finance Minister Pranab Mukharjee. Expectations are high from the budget with thrust on infrastructure,divestment,removal of FBT(Fringe Benefit Tax) and STT(Securities Transaction Tax).
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RIL and TataSteel added Open Interest in July series..PFC and BPCL shaded Open Interest.Huge position was build up at RIL July Call Option Strike Price 2100.Good build up was also seen at Tata Steel July Call Option Strike Price 440.
Tactics for Future Option players.
1)ChambalFertilzer(70.95) Lot Size-3450 Shares
Buy One Call Option of July Strike Price 70@6.90 Rs.
Sell One Call Option of July Strike Price 80 @3.45 Rs.
Premium .Paid=6.90*3450=23805.00 Rs.
Premium Received=.3.45*3450=11902.50 Rs.
Net Premium Paid=23805-11902.50=11902.50 Rs.
Maximum Profit=80-70=10*3450=34500-11902.50=22597.50 Rs.
Maximum Loss=11902.50 Rs.
Break Even Price=73.45
2)NTPC(205.80) July Future-Lot Size 1625 shares.
Buy One Lot July Future @205.80
Sell One Call Option of July Strike Price 220@5.70 Rs.
Premium Received=5.7*1625=9262.50 Rs
Maximum Profit=220-205.80=14.2*1625=23075+9262.50=32337.50 Rs.
Max Loss=Unlimited.
Trend of Major Stocks
STOCK TREND Days WeeklyTrend MonthlyTrend
BHEL.NS Bulllish1FallingFalling
ICICIBANK.NSBulllish1FallingFalling
INFOSYSTC.NSBulllish3FallingRising
ITC.NS Bearish5FallingRising
MARUTI.NS Bulllish1FallingFalling
SBIN.NS Bullish 1FallingRising
TATASTEEL.NSBulllish3FallingRising
ITCS.NS Bulllish8FallingFalling
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.NS 2186.338.6254.8329.11
ICICIBANK.NS754.9547.0155.2517.51
INFOSYSTC.NS1805.15 63.3352.2770.15
ITC.NS 191.733.0847.8118.76
MARUTI.NS 1058.7553.2555.4518.12
SBIN.NS 1809.6547.5657.8333.55
TATASTEEL.NS437.9547.9159.820.89
TCS.NS390.9561.0930.3544.39
Trading Idea
1)TataPower(1187.10)Buy this stock in decline and trade.
2)IDFC(144.90) Buy this stock in decline and trade.
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