Market outlook for 07/02/11

Click for some Important Fibo Levels


Nifty closed down 131.00 points (2.37%) at 5395.75 while Nifty February Future closed at 5387.00 discount of 8.75 points
Bank Nifty closed down 236.75 points (2.22%) at 10433.85 while February Future closed at 10422.80 discount of 11.05 points.

• FII bought in Cash (Net buy 144.04 Crore)
• FII bought in index option, stock future but sold in index future (Net buy 847.06 Crore)
• DII bought in Cash (Net buy 237.45 Crore)
• US market ended flat to positive.
• Global cues are positive.
• 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 320:1065

NIFTY TECHNICAL

Current Spot: 5395.75
Pivot: 5440
5DEMA: 5469
10DEMA: 5535
20DEMA: 5641
50DEMA: 5819
RSI (15 days): 31.09
Parabolic SAR: 5556
Supports: 5324 - 5253
Resistance: 5512 - 5628

Nifty Future VWAP: 5458.71
MP Values Futures: VAH - 5524, POC - 5452, VAL - 5380

TARGET NIFTY
Buy Nifty Future above 5441 - 5514 - 5643 - 5723 SL - 5430
Sell Nifty Future below 5379 - 5310 - 5230 - 5130 SL - 5439

BANKNIFTY TECHNICAL

Current Spot: 10433.85
Pivot: 10531
5DEMA: 10550
10DEMA: 10626
20DEMA: 10783
50DEMA: 11278
RSI (15 days): 38.80
Parabolic SAR: 11190
Supports: 10289 - 10144
Resistance: 10676 - 10917

Bank Nifty Future VWAP: 10592.77
MP Values Bank Nifty Futures: VAH - 10798, POC - 10698, VAL – 10524

TARGET BANKNIFTY
Buy BankNifty Future above 10542 - 10684 - 10950 - 11105 SL - 10504
Sell BankNifty Future below 10407 - 10273 - 10118 - 9852 SL - 10539

INTRADAY TRADE
Reliance Industries: Buy above 931 for targets of 934, 940, 948 SL 925
Reliance Industries: Sell below 916 for targets of 913, 908, 901 SL 929
Divislab: Buy above 660 for targets of 665, 675 SL 650
Welcorp: Buy above 160 for targets of 162, 165 SL 157

SCORE SHEET
Hindalco: Buy above 248 for targets of 250, 254 SL 243: Target 251.25 achieved
Sintex: Buy above 150 for targets of 152, 155 SL 146: Target 153.60 achieved

POSITIONAL TRADE
Jisljaleqs: Buy above 194 for target of 208 SL 188 (One Week)
Rssoftware: Buy above 56 for target of 61 SL 53.9 (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