Intraday calls for 28-04-11

Quotes with Resistance & Support

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Intraday calls for 28-04-11

Posted on: April 28th, 2011 at 8:30 am

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Markets likely to open flat, next support at 5750, resistance at 5920

Buy Godrej Industries around 188, Target: 195, SL 182

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430 Responses

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Sunil Rao Says:
April 28th, 2011
Posted at: 4:48 pm
Hi Man go, I beg to differ on that ...
80% of options go worthless ... As such, its the option writers that make more money than the option buyers.
Strong hands short options and make money on it. Shorting is not done when the price comes down to Rs.10 but done at higher values (when options are ATM/ITM and about to become OTM) and wait till expiry for it to come down to Zero.
If the market is trending in a particular direction, As soon as a particular level is broken, ITM options are shorted for max profits.
If the market is range bound ITM options are shorted when the range tops and bottom are reached.
As for Index futures, Index futures are also traded to maximise profits and hedging is done with OOTM options which are very very cheap.
This trading of Options can be confirmed on the day of expiry by checking the volume of buying on the day of expiry of all the options.
Sunil Rao Says:
April 28th, 2011
Posted at: 4:49 pm
Hi Kartik, GE, Welcome back :)
Hi Abdullah, GE :)
Romit Kesharwani Says:
April 28th, 2011
Posted at: 4:59 pm
Posting Again:
I have TechMahindra @ 737, Selan Explore @ 387 @ ISMT @ 64.15.
What should i do with these shares.
Hold or sell off??
Kartik Says:
April 28th, 2011
Posted at: 5:29 pm
Hi Romit Kesharwani, these are a hold for short term. fundamentally good bets. once markets improve, will do well
Man go Says:
April 28th, 2011
Posted at: 5:30 pm
Hi Sunil Rao, yes. . this problem is different. .. tired of explaining :)
Addition of OI & decrease in premium in OTM call doesn't always indicate short selling, especially when it is trading below strong resistance & call premium is around 10/15 RS & vol is 21% . .. in that case funds will short index with long in OTM call .. . thats my point
Man go Says:
April 28th, 2011
Posted at: 5:38 pm
Hi Abdullah, yes boss.. :) when there is addition in OI of OTM options people blackly believe that they are shorts. Funds play different strategies depending on market condition .. :)
Rise Says:
April 28th, 2011
Posted at: 5:40 pm
hey kartik wat is ur view on hero honda...where can it see support :)
Sunil Rao Says:
April 28th, 2011
Posted at: 6:15 pm
Hi Man go, GE :)
Increase in OI and decrease in premium indicates fresh shorts creation
Increase in OI and increase in premium indicates fresh longs creation
Decrease in OI and decrease in premium indicates closure of longs
Decrease in OI and increase in premium indicates closure of shorts
These are general guidelines to infer from OI. But other technical indicators should always be used in conjunction with these guidelines for more accurate analysis.
If there exists a very strong resistance, funds short ITM/ATM options every time the resistance is hit irrespective of its value and also short index and go long with OTM as hedge. And more the volatality, more is the profit for the funds as every time the strong Resistances are hit, ITM/ATM calls are shorted and again when strong supports are hit, ITM/ATM puts are shorted.
e.g. Nifty has very strong resistance at 5950 and strong support at 5750. Whenever Nifty comes near the resistance, the ITM (5900CE) and ATM (6000CE) are shorted. And for index shorting, hedge maybe created with OTM (6100CE). Similarly, if Nifty comes near the support, the ITM (5800PE) and ATM (5700PE) are shorted and hedge maybe created with OTM (5600PE) for index longs.
Subhag Ghosh Says:
April 28th, 2011
Posted at: 6:19 pm
Hi Abdullah, Can u please explain what decrease in price with increase in OI, indiates in option at a particular strike.
Subhag Ghosh Says:
April 28th, 2011
Posted at: 6:20 pm
I totally agree with sunil rao.
nithin2009 Says:
April 28th, 2011
Posted at: 6:43 pm
cb...i hold 500 dhampur [email protected] advice on the investment.
Shereef Says:
April 28th, 2011
Posted at: 6:54 pm
Hi Gitanjali,
I do remeber you were holding Unitech 35 PE.
What happened to that, still holding.
A chance is there for a flash near 35 tomorrow. Tough to break below that.
Regards.
CB Says:
April 28th, 2011
Posted at: 7:00 pm
Hi Rise, it has good support lower near 1550-1600 levels.
Hi nithin2009, for now hold with strict sl at 59
cvrprakash Says:
April 28th, 2011
Posted at: 7:03 pm
HI CB,
Holding BGR @ 585 levels !!!
What to do? I can hold it for another week's time.Any chance of getting the price back?
SAGAR Says:
April 28th, 2011
Posted at: 7:14 pm
Alien Body found in Russia 2011 : FBI
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irshu Says:
April 28th, 2011
Posted at: 7:18 pm
hi i have vijaya [email protected] advise me hold or sell