NIFTY FUT OBSERVATION :-

1) Total OI of NIFTY FUT up 5.47%, NIFTY NOV FUT closed up 4.27%

    last week. 26 points premium decreased to 20 points ( -6 points ) premium

    compare to NIFTY SPOT last week.

2) Out of NIFTY 50 STOCK FUTS, 39 STOCK FUTS closed positive,

    1 STOCK FUTs closed negative and 10 STOCK FUTs closed flat last

    week.

3) OI of current series 6100 CE is down 38.27% prices up 131.92% showing

    Aggressive short covering. OI of current series 6200 CE is down 10.49%

    prices up 155.87%, 6300 CE is up 3.80% prices up 182.26% showing short

    covering plus buying. OI of current series 6400 CE is up 63.13% prices up

    205.67% and 6500 CE is up 40.88% prices up 244.83% showing buying.

    6500 CE highest OI at 61.53 LK. Highest OI shifted upward from 6200 CE

    to 6500 CE last week.

4) OI of current series 6100 PE is up 123.99% prices down 74.80% and 6200 PE

    is up 282.44% prices down 70.03% showing Aggressive put writing. OI of

    current series 6300 PE is up 261.11% prices down 64.29% showing put writing.

    6000 PE highest OI at 60.73 LK.

5) Total OI of NIFTY NOV series CALLs is up by 17.73 LK to 3.03 CR showing

    short covering plus buying, PUTs is up by 1.10 CR to 4.38 CR showing

    Aggressive put writing last week. NIFTY NOV series PCR (OI) at 1.44 up by

    0.29 points last week.

6) FII OI in INDEX FUT at 522767 contracts down by 18274 contracts showing

    short covering.

7) INDIA VIX at 19.36 down by 1.40 points last week.

CONCLUSION :-  Clear upward breakout with volumes. I expect NIFTY SPOT

will try to touch 6400 levels, minor R near 6340-70 Zone. Strong R 6460-70 levels.

Profit booking expected near 6460-70 levels. On downside, NIFTY SPOT S 6180-90,

strong S 6130-40. Only below 6120 levels, more weakness expected. CAPITAL

GOODS and MEDIA counters looks bullish for next week.

DATE : 06/11/2010