Market outlook for 05/04/11

Nifty closed up 82.40 points (1.41%) at 5908.45 while Nifty April Future closed at 5943.30 premium of 34.85 points.
Bank Nifty closed up 213.35 points (1.84%) at 11804.30 while April Future closed at 11884.95 premium of 80.65 points.

• FII bought in Cash (Net buy 604.51 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 1350.95 Crore)
• DII sold in Cash (Net sell 389.33 Crore)
• US market is trading in Green.
• Global cues are flat to positive.
• SGX nifty is positive as of now.
• Most Active Nifty April Call Option: 5900 and 6000.
• Most Active Nifty April Put Options: 5900 and 5800.
• Advance Decline for the day was 1241:176.

NIFTY TECHNICAL

Current Spot: 5908.45
Pivot: 5887
5DEMA: 5813
10DEMA: 5722
20DEMA: 5629
50DEMA: 5611
RSI (15 days): 68.91
Parabolic SAR: 5523
Supports: 5855 - 5801
Resistance: 5940 - 5972
DeMark’s: 5871 - 5956

Nifty Future VWAP: 5908.42
MP Values Futures: VAH - 5954, POC - 5932, VAL - 5872

TARGET NIFTY
Buy Nifty Future above 5948 - 5979 - 6019 - 6085 SL - 5913
Sell Nifty Future below 5907 - 5880 - 5814 - 5775 SL - 5919

BANKNIFTY TECHNICAL

Current Spot: 11804.30
Pivot: 11753
5DEMA: 11647
10DEMA: 11467
20DEMA: 11238
50DEMA: 11048
RSI (15 days): 66.05
Parabolic SAR: 10890
Supports: 11666 - 11527
Resistance: 11892 - 11979
DeMark’s: 11709 - 11936

Bank Nifty Future VWAP: 11811.88
MP Values Bank Nifty Futures: VAH - 11918, POC - 11858, VAL - 11736

TARGET BANKNIFTY
Buy BankNifty Future above 11894 - 11969 - 12058 - 12204 SL - 11823
Sell BankNifty Future below 11811 - 11746 - 10601 - 11511 SL – 11835

INTRADAY TRADE
Reliance Industries: Buy above 1053 for targets of 1056, 1062, 1069 SL 1042
Reliance Industries: Sell below 1040 for targets of 1038, 1032, 1022 SL 1047
BGREnergy: Buy above 538 for targets of 544, 554 SL 529
UFlex: Buy above 156 for targets of 158, 164 SL 151

SCORE SHEET
Hindoilexp: Buy above 225 for targets of 229, 236 SL 216: Target 230.45 achieved
RelMedia: Buy above 172 for targets of 175, 179 SL 166: Target 179.65 achieved

POSITIONAL TRADE
Pateleng: Buy above 174 for target of 192 SL 165 (One Week)
Gitanjali: Buy above 267 for target of 288 SL 261 (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