Market outlook for 31/01/11

Nifty closed down 92.15 points (1.64%) at 5512.15 while Nifty February Future closed at 5536.55 premium of 24.4 points
Bank Nifty closed down 97.90 points (0.92%) at 10578.25 while February Future closed at 10635.95 premium of 57.7 points.

• FII sold in Cash (Net sell 706.84 Crore)
• FII bought in index option but sold in index future, stock future (Net buy 2298.15 Crore)
• DII bought in Cash (Net buy 81.24 Crore)
• US market end in Deep Red.
• Global cues are negative.
• SGX nifty is in red as of now.
• Most Active Nifty Feb Call Option: 5600 and 5700.
• Most Active Nifty Feb Put Options: 5500 and 5400.
• Advance Decline for the day was 130:1276

NIFTY TECHNICAL

Current Spot: 5512.15
Pivot: 5529
5DEMA: 5620
10DEMA: 5679
20DEMA: 5763
50DEMA: 5868
RSI (15 days): 31.28
Parabolic SAR: 5776
Supports: 5443 - 5374
Resistance: 5598 - 5684

Nifty Future VWAP: 5549.84
MP Values Futures: VAH - 5594, POC - 5548, VAL - 5506

TARGET NIFTY
Buy Nifty Future above 5552 - 5608 - 5682 - 5745 SL - 5541
Sell Nifty Future below 5528 - 5476 - 5414 - 5339 SL - 5551

BANKNIFTY TECHNICAL

Current Spot: 10578.25
Pivot: 10599
5DEMA: 10736
10DEMA: 10792
20DEMA: 10942
50DEMA: 11336
RSI (15 days): 39.99
Parabolic SAR: 10459
Supports: 10461 - 10343
Resistance: 10716 - 10854

Bank Nifty Future VWAP: 10615.37
MP Values Bank Nifty Futures: VAH - 10770, POC - 10690, VAL - 10610

TARGET BANKNIFTY
Buy BankNifty Future above 10647 - 10751 - 10872 - 10989 SL - 10634
Sell BankNifty Future below 10620 - 10524 - 10407 - 10286 SL - 10645

INTRADAY TRADE
Reliance Industries: Buy above 925 for targets of 928, 936, 945 SL 918
Reliance Industries: Sell below 908 for targets of 905, 897, 885 SL 923
Sail: Buy above 159 for targets of 160.5, 162 SL 157.5
RelInfra: Buy above 727 for targets of 730, 735 SL 721

SCORE SHEET
Brfl: Buy above 245 for targets of 248, 252 SL 241: SL Hit
SesaGoa: Buy above 333 for targets of 335, 338 SL 330: Target 334.90 achieved

POSITIONAL TRADE
VijayaBank: Buy above 90.5 for target of 95 SL 89 (One Week)
CMahendra: Buy above 136 for target of 145 SL 133 (One Week)

Use strict STOP LOSS in each and every trade in this kind of volatile market and Trade at your own risk.

Thanks and Regards

S&P Wealth Creators