Market outlook for 03/02/11

Nifty closed up 14.80 points (0.27%) at 5432.00 while Nifty February Future closed at 5442.50 premium of 10.50 points
Bank Nifty closed down 11.05 points (0.11%) at 10470.15 while February Future closed at 10497.25 premium of 27.10 points.

• FII sold small in Cash (Net sell 81.73 Crore)
• FII bought in index future, index option, stock future (Net buy 1796.35 Crore)
• DII bought in Cash (Net buy 680.38 Crore)
• US market is trading flat to negative.
• Global cues are flat.
• SGX nifty is flat as of now.
• Most Active Nifty Feb Call Option: 5500 and 5600.
• Most Active Nifty Feb Put Options: 5500 and 5400.
• Advance Decline for the day was 692:664

NIFTY TECHNICAL

Current Spot: 5432.00
Pivot: 5446
5DEMA: 5495
10DEMA: 5574
20DEMA: 5682
50DEMA: 5833
RSI (15 days): 28.86
Parabolic SAR: 5625
Supports: 5402 - 5371
Resistance: 5477 - 5521

Nifty Future VWAP: 5472.06
MP Values Futures: VAH - 5494, POC - 5472, VAL - 5450

TARGET NIFTY
Buy Nifty Future above 5462 - 5492 - 5544 - 5580 SL - 5449
Sell Nifty Future below 5434 - 5409 - 5372 - 5321 SL - 5461

BANKNIFTY TECHNICAL

Current Spot: 10470.15
Pivot: 10501
5DEMA: 10577
10DEMA: 10669
20DEMA: 10835
50DEMA: 11297
RSI (15 days): 38.33
Parabolic SAR: 11223
Supports: 10387 - 10304
Resistance: 10584 - 10698

Bank Nifty Future VWAP: 10558.28
MP Values Bank Nifty Futures: VAH - 10608, POC - 10562, VAL – 10516

TARGET BANKNIFTY
Buy BankNifty Future above 10538 - 10602 - 10712 - 10790 SL - 10515
Sell BankNifty Future below 10482 - 10425 - 10347 - 10237 SL - 10535

INTRADAY TRADE
Reliance Industries: Buy above 924 for targets of 928, 933, 940 SL 917
Reliance Industries: Sell below 914 for targets of 912, 906, 895 SL 921
DLF: Buy above 229 for targets of 232, 235 SL 225
KsOils: Buy above 40.6 for targets of 41, 41.6 SL 40.1

SCORE SHEET
Tatacoffee: Buy above 695 for targets of 701, 712 SL 688: Target 709.00 achieved
IndHotel: Buy above 92 for targets of 93.5, 96 SL 90.5: Target 93.70 achieved

POSITIONAL TRADE
Jisljaleqs: Buy above 174 for target of 189 SL 169 (One Week)
Recltd: Buy above 229 for target of 243 SL 225 (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