NSE revises lot sizes of F&O scrips w.e.f. Apr 30, 2010.
SEBI has advised exchange to standardize lot size for derivative contracts on individual securities once in every 6 months as per circular no. SEBI/DNPD/Cir- 50/2010 dated January 8, 2010.
For details, go through :: http://www.moneycontrol.com/news_html_files/news_attachment/2010/faop14475.pdf
FUTURES AND OPTIONS SEGMENT
Circular No. 029
"Stability itself is nothing else than a more sluggish motion." - Michel de Montaigne.
INDIAN MARKET FOR 30.04.2010:: The Sensex, which appeared sideways on Thursday for the major part of the session finally closed higher gaining 123 points at 17503, about 30 points off the day’s high. The Nifty too closed the day netting a gain of 38 points at 5254, slightly off the day’s high of 5264. With smooth rollover to May series the April-2010 derivatives
contracts expired yesterday. Meantime, food inflation
declined by over one percentage point to a month’s low of 16.61 per cent for the week ended April 17, as pressure on prices eased with the arrival of rabi crops in the market. Forecast of near normal monsoon too weighed in investors’ mind to keep the market sentiment buoyant. The market breadth yesterday remained positive right through the session as out of 2988 stocks traded on BSE, 1910 stocks closed higher. 975 stocks declined and 103 stocks ended flat. The markets appear to be consolidating at current levels but remain undecided and therefore, readers are advised to trade with caution till a clear trend emerges.
contracts expired yesterday. Meantime, food inflation declined by over one percentage point to a month’s low of 16.61 per cent for the week ended April 17, as pressure on prices eased with the arrival of rabi crops in the market. Forecast of near normal monsoon too weighed in investors’ mind to keep the market sentiment buoyant. The market breadth yesterday remained positive right through the session as out of 2988 stocks traded on BSE, 1910 stocks closed higher. 975 stocks declined and 103 stocks ended flat. The markets appear to be consolidating at current levels but remain undecided and therefore, readers are advised to trade with caution till a clear trend emerges.Nifty (Spot) :: Support 5224 - 5214 - 5194 - 5174; Resistance 5268 - 5279 - 5298 - 5324
FUTURE:: Nifty May 2010 futures were at 5246.90 (5245.05 in closing session) at a discount of 7.25 points compared to spot closing of 5,254.15. Turnover in NSE's futures & options (F&O) segment was Rs 1,25,435.85 crore, lower than Rs 1,46,788.34 crore on Wednesday, 28 April 2010. European stocks bounces back after two day’s fall on the back of mostly positive earnings and word from the US Federal Reserve that it would keep interest rates near zero for an extended period. First resistance come at 5299, above that 5312 and 5325 level. Downside supports are at 5235 and 5220. 5200 is strong support.
OPTIONS:: BUY NIFTY 5300CE ABOVE 75 WITH A STRICT STOPLOSS OF 73.95 FOR A TARGET OF 85-88.
BUY BHARTI AIRTEL 300CA ABOVE 8.25 WITH A STRICT STOPLOSS OF 7.75 FOR A TARGET OF 9.55-9.75.
BUY RELIANCE 1050CA ABOVE 24 WITH A STRICT STOPLOSS OF 22.90 FOR A TARGET OF 28-30.
BUY SUZLON 75CA ABOVE 1.20 WITH A STRICT STOPLOSS OF 1.05 FOR A TARGET OF 1.50-1.65
STOCKS:: M&M - BUY ABOVE 531 WITH A STOPLOSS OF 524 FOR TARGETS OF 540, 548.
DISCLAIMER:: I am holding one lot of SUZLON MAY FUTURE. So, I may have some vested interest.
NOTE:: Traders are advised to trade above ideas as per their risk taking apetites. Derivatives trading are risky.
"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful." - Warren Buffett
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