Monday, August 2, 2010
-Today's close is quite bullish above Daily & Weekly 5d high emas.
-FII's have been big buyers today apprx.728 cr. Friday's figures (in a down mkt.) are nearing +1000cr.
-O.I shows accumulation at 5600 call &5300 put ,with aggresive writing of 5400 puts.
-Short term Indicators in 5min ,30min,& hrly have moved to o/b zone with 5min showing negative diversion.
-Major resistance is coming at 5475 levels.(previous top ,approx. rising wedge trendline which was broken last week & bollinger band top in daily charts at 5485 .)
-Those long today should once book out near 5475 if trades near it early in the day.Long enrty can be done near 5420 with a s/l below 5405.
-Trade light till closes above 5475 .