BSE Sensex (19135.96) and Nifty (5749.50) closed down 2.4% and 2.3% respectively last week.Nifty Future May was quoting at 1.05 points premium.Nifty call option May 5800 was very active.Support for Sensex is at 18820. Resistance for Sensex is at 19500 .Support for Nifty is at 5655 and resistance at 5850..
RBI monetary policy review meet will be held on 3rd May 2011.BOI,Hero Honda,PNB,Bhart Airtel and Cipla will announce quarterly results next week.
Infosys and SBI added Open Interest in May series.Huge position was build up at SBI May Call Option Strike Price 2900.Good build up was also seen at RIL May Call Option Strike Price 1000.
Strategy for Futures Option players.
1)Cairn(351.05) Lot Size-1000 Shares
Buy One Call Option of May Strike Price 340@18.50 Rs
Sell One Call Option of May Strike Price 360.00@8.85 Rs.
Premium .Paid=18.50*1000=18500.00 Rs.
Premium Received=8.85*1000= 8850.00 Rs.
Net Premium Paid==18500.00-8850.00=9650.00 Rs.
Maximum Profit==360-340=20*1000=20000.00-9650.00=10350.00 Rs.
Maximum Loss= 9650.00 Rs.
Break Even Price=349.65
2)MTNL(48.60) Future-Lot Size 4000 shares.
Buy One Lot MAY Future @48.60Rs
Sell One Call Option of May Strike Price 50@1.25 Rs.
Premium Received=1.25*4000=5000.00 Rs
Maximum Profit=50.00-48.60=1.40*4000=5600.00+5000.00=10600.00 Rs.
Max Loss=Unlimited.
Trend of Major Stocks
STOCK TREND Days WeeklyTrend MonthlyTrend
BHEL.NS Bearish 9 Falling Flat!
INFOSYSTC.NS Neutral 1 Falling Flat!
ITC.NS Neutral 1 Falling Flat!
TATASTEEL.NS Bearish 3 Falling Flat!
TCS.NS Bearish 4 Falling Flat!
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 2003.1 45.34 38.97 27.79
INFOSYSTC.NS 2900 59.48 36.68 26.68
ITC.NS 192.4 65.22 68.54 30.01
TATASTEEL.NS 615.9 52.46 47.12 12.91
TCS.NS 1162.6 36.72 48.97 25.76
Trading Idea
1)PFC(232)Buy this stock in decline and trade.
2)Sun Pharma(464.90) Buy this stock in decline and trade
By
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