Bullet Advice For Indian Stocks Weekly- market will remain range bound before union budget

BSE Sensex (14764.64) and Nifty (4375.50) closed 1.7% and 1.4 % up respectively
last week.Nifty Future July was quoting at 8.5 points premium.Nifty Call Option July 4500 was very active.Support for Sensex is at 14250 and Nifty at 4210.Resistance for Sensex is at 15280 and Nifty is at 4540.Crude oil was at 69.00 $.

Union Budget will be presented on 6th July 2009 by Finance Minister Pranab Mukharjee.Deregulation of fuel pricing is expected with more power gave to PSU oil refineries to decide the price of petrol and diesel.This can increase the prices of petrol and diesel significantly.

RIL and ICICI Bank added Open Interest in July Series.ACC and Cairn shaded Open Interest.Huge position was build up at RIL July Call Option Strike Price 2010.Good build up was also seen at IFCI July Call Option Strike Price 60.

Tactics for Future Option players.

1)Hindalco(86.70) Lot Size-3518 Shares
Buy One Call Option of July Strike Price [email protected] Rs.
Sell One Call Option of July Strike Price 95 @4.10Rs.
Premium .Paid=9.15*3518=32189.70 Rs.
Premium Received=.4.10*3518=14423.80 Rs.
Net Premium Paid=32189.70-14423.80=17765.90 Rs.
Maximum Profit=95-85=10*3518=35180-17765.90=17414.10 Rs.
Maximum Loss=17765.90 Rs.
Break Even Price=90.05

2)RPL(1126.85) July Future-Lot Size 1675 shares.
Buy One Lot July Future @126.85 Rs.
Sell One Call Option of July Strike Price [email protected] Rs.
Premium Received=5*1675=8375.00 Rs
Maximum Profit=140-126.85=13.15*1675=22026.25 + 8375.00=30401.25 Rs.
Max Loss=Unlimited.

Trading Idea

1)HDIL(251.55)Buy this Stock in decline and trade
2)ICICI Bank(756.15)Buy this Stock in decline and trade


Trend of Major Stocks

STOCK TREND Days WeeklyTrend MonthlyTrend

BHEL.NS Bulllish1FallingRising
ICICIBANK.NSBulllish1FallingRising
INFOSYSTC.NSBulllish7RisingRising
ITC.NS Neutral1FallingFalling
MARUTI.NS Bulllish1FallingRising
SBIN.NS Neutral1FallingRising
TATASTEEL.NSBearish1FallingRising
TCS.NS Bulllish3FallingRising

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 2203.7542.6858.0533.83
ICICIBANK.NS756.1536.7755.3221.07
INFOSYSTC.NS1827.169.152.8467.11
ITC.NS 196.756.1652.0325.18
MARUTI.NS 1059.2552.8155.8823.71
SBIN.NS 1749.2547.0156.1633.24
TATASTEEL.NS388.5548.1347.725.25
TCS.NS 397.470.4829.8745.97

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