Nifty Future 5260-5224 are support area. Last close on Friday at 5286; On Friday it made a low of 5265. Breaks and close below 5224 level, we may see the level of 5200/5140 in panic selling. On the contrary, if trades above 5276 level then, it will rally upto 5304 and crossover above 5304 will take it to 5322-5329 level.
Trend is still Bullish. (Refer WEEKLY REVIEW posting on 27.06.2010).
FOR TODAY::
Option :
Buy July 200CA @ 9.50 and Sell July 210 CA @ 6.00; Lot size is 2000 and max. Loss is 7000/- whereas it may give around 13000/- profit within expiry
Buy CIPLA July 360 CA @ 5.00 and sell July 380CA 1.25; Lot size is 1000 and max loss is 3750/- whereas profit may be around 16250/- within expiry
Future : Buy Nagarfert around 31 with strict stoploss 29 for a target of 36
Sell India Cement below 106 with strict stoploss of 108 for a target of 100
