Today’s Levels (01-11-2010)

(Last Close : Sensex 20032 : Nifty Spot 6018)
Today’s Levels
Trade long if Sensex sustains above 19999 (Nifty 6003)
[Upside targets/resistances at 20080(6032)/20185(6070) or higher]
Trade short if Sensex fails to sustain above 20080 (Nifty 6032)
[Downside targets/supports at 19999(6003)/19912(5980) or lower]

LEVELS FOR THE DAY (01-11-2010)

LEVELS FOR THE DAY: Domestic markets are likely to open on a positive note, taking cues from the flat-to-positive US and strong Asian indices. Traders are advised to trade long in Nifty above 6080 levels, else from 6050 with a stop loss at 6020 levels, targeting higher levels of 6130 and 6150.

LEVELS FOR THE WEEK (01-05, Nov 2010)

LEVELS FOR THE WEEK: The immediate resistance levels for the Sensex and Nifty are at 20250-20350-20450 and 6150-6200-6250, respectively, while the support level is at 20050-19850-19700 and 6050-6020-6000. Any move close to the resistance levels can be used to book partial profits and initiate fresh positional long positions only if the Sensex manages to sustain above its resistance levels with strict stop losses.

NSE FAO Circular regarding European Style Stock Options

In pursuance of SEBI circular no. CIR/DNPD/6/2010 dated October 27, 2010 regarding European Style Stock Options, circular no. 120 (Download no. 16165) dated October 28, 2010 regarding European Style Stock Options and in partial modification to consolidated circular no.1136 (Download no. 16104) dated October 25, 2010 you are informed that all Stock Options contracts expiring on January 27, 2011 and onwards shall have European exercise style only.

Accordingly there shall be no interim exercise available for all Stock Options contracts expiring on January 27, 2011 and onwards and all the in-the-money Stock Options contracts shall get automatically exercised on the expiry day.

All existing month Stock Options contracts expiring on November 25, 2010 and December 30,2010 shall continue to have American exercise style.