Market outlook for 04/02/11

Nifty closed up 94.75 points (1.74%) at 5526.75 while Nifty February Future closed at 5538.95 premium of 12.20 points
Bank Nifty closed up 200.45 points (1.91%) at 10670.60 while February Future closed at 10701.70 premium of 31.10 points.

• FII bought in Cash (Net buy 538.71 Crore)
• FII sold in index future but bought in index option, stock future (Net sell 356.00 Crore)
• DII sold in Cash (Net sell 45.45 Crore)
• US market is trading negative.
• Global cues are negative.
• SGX nifty is negative 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 960:411

NIFTY TECHNICAL

Current Spot: 5526.75
Pivot: 5492
5DEMA: 5506
10DEMA: 5566
20DEMA: 5667
50DEMA: 5824
RSI (15 days): 36.84
Parabolic SAR: 5585
Supports: 5452 - 5378
Resistance: 5567 - 5607

Nifty Future VWAP: 5501.82
MP Values Futures: VAH - 5544, POC - 5514, VAL - 5482

TARGET NIFTY
Buy Nifty Future above 5543 - 5579 - 5621 - 5700 SL - 5501
Sell Nifty Future below 5495 - 5463 - 5385 - 5343 SL - 5506

BANKNIFTY TECHNICAL

Current Spot: 10670.60
Pivot: 10601
5DEMA: 10608
10DEMA: 10669
20DEMA: 10819
50DEMA: 11282
RSI (15 days): 43.31
Parabolic SAR: 11207
Supports: 10499 - 10327
Resistance: 10773 - 10876

Bank Nifty Future VWAP: 10637.49
MP Values Bank Nifty Futures: VAH - 10730, POC - 10664, VAL – 10598

TARGET BANKNIFTY
Buy BankNifty Future above 10710 - 10812 - 10929 - 11050 SL - 10624
Sell BankNifty Future below 10613 - 10518 - 10329 - 10213 SL - 10624

INTRADAY TRADE
Reliance Industries: Buy above 946 for targets of 949, 954, 961 SL 934
Reliance Industries: Sell below 931 for targets of 928, 923, 915 SL 938
Hindalco: Buy above 248 for targets of 250, 254 SL 243
Sintex: Buy above 150 for targets of 152, 155 SL 146

SCORE SHEET
DLF: Buy above 229 for targets of 232, 235 SL 225: Target 246.90 achieved
KsOils: Buy above 40.6 for targets of 41, 41.6 SL 40.1: Target 41.35 achieved

POSITIONAL TRADE
JPAssociat: Buy above 86 for target of 90 SL 84 (One Week)
Hdil: Buy above 141 for target of 147 SL 136 (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