Bullet Advice For Indian Stocks Weekly- market builds up confidence after President Pratibha Patils address to the house.
BSE Sensex (15103.55) and Nifty (4586.90) closed 3.3% and 3.1% up respectively last week. Nifty OI Put Call Ratio was 1.10.Nifty Future June was quoting at 5.45 points premium.Nifty Call Option June 4600 was very active.Support for Sensex is at 14700 and Nifty at 4480.Resistance for Sensex is at 15400 and Nifty is at 4665.Crude oil was at 68.80 $.
Union Budget will be presented on 3rd July 2009 by Finance Minister Pranab Mukherjee.The Government is determined to go ahead with pension reforms,divestment programme and recapitalisation of public sector banks.
MRPL and Petronet added Open Interest in June Series.ACC and ICICI Bank shaded Open Interest.Huge position was build up at Hindalco June Call Option Strike Price 100.Good build up was also seen at Ranbaxy June Call Option Strike Price 300.
Tactics for Future Option players.
1)ICICI BANK(754.75) Lot Size-700
Buy One Call Option of June Strike Price 760 @45.15 Rs.
Sell One Call Option of June Strike Price 800 @30.35 Rs.
Premium .Paid=45.15*700=31605.00 Rs.
Premium Received=.30.35*700=21245.00 Rs.
Net Premium Paid=31605.00-21245.00=10360.00 Rs.
Maximum Profit=800-760=40*700=28000.00-10360.00=17640.00 Rs.
Maximum Loss=10360.00 Rs.
Break Even Price=774.80
2)HINDALCO(93) June Future-Lot Size 7036 shares.
Buy One Lot JuneFuture @93.00 Rs.
Sell One Call Option of June Strike Price 100@5.00 Rs.
Premium Received=5*7036=35180.00 Rs
Maximum Profit=100-93=7*7036=49252.00+35180.00=84432.00 Rs.
Max Loss=Unlimited.
Trading Idea
1)DR REDDY(686.30)Buy this Stock in decline and trade
2)MRPL(93.55)Buy this Stock in decline and trade
Trend of Major Stocks
STOCK TREND Days WeeklyTrend MonthlyTrend
BHEL.NS Bulllish1RisingRising
ICICIBANK.NSBulllish1RisingRising
INFOSYSTC.NSBulllish1RisingRising
ITC.NS Bearish1RisingFalling
MARUTI.NS Bulllish2RisingRising
SBIN.NS Bearish3RisingRising
TATASTEEL.NSBearish1RisingRising
TCS.NS Bulllish8RisingRising
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 2287.555.8873.2347.01
ICICIBANK.NS754.7554.4567.440.31
INFOSYSTC.NS1698.943.2362.1936.4
ITC.NS191.3546.550.930.35
MARUTI.NS1087.170.3274.0845.3
SBIN.NS1817.6547.4366.2945.12
TATASTEEL.NS463.961.5677.8249.48
TCS.NS721.3554.9963.7937.96
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