Market outlook for 06/04/11

Nifty closed up 1.60 points (0.03%) at 5910.05 while Nifty April Future closed at 5932.60 premium of 22.55 points.
Bank Nifty closed down 5.40 points (0.05%) at 11798.90 while April Future closed at 11861.45 premium of 62.55 points.

• FII bought in Cash (Net buy 723.29 Crore)
• FII sold in index future, stock future but bought in stock option (Net sell 702.06 Crore)
• DII sold in Cash (Net sell 528.98 Crore)
• US market is trading flat.
• Global cues are flat to positive.
• SGX nifty is flat 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 974:436.

NIFTY TECHNICAL

Current Spot: 5910.05
Pivot: 5898
5DEMA: 5845
10DEMA: 5756
20DEMA: 5656
50DEMA: 5618
RSI (15 days): 69.07
Parabolic SAR: 5572
Supports: 5868 - 5825
Resistance: 5941 - 5971
DeMark’s: 5847 - 5919

Nifty Future VWAP: 5911.04
MP Values Futures: VAH - 5960, POC - 5926, VAL - 5892

TARGET NIFTY
Buy Nifty Future above 5939 - 5995 - 6060 - 6120 SL - 5928
Sell Nifty Future below 5924 - 5872 - 5810 - 5750 SL - 5938

BANKNIFTY TECHNICAL

Current Spot: 11798.90
Pivot: 11779
5DEMA: 11698
10DEMA: 11528
20DEMA: 11291
50DEMA: 11057
RSI (15 days): 66.10
Parabolic SAR: 11011
Supports: 11698 - 11596
Resistance: 11881 - 11962
DeMark’s: 11647 - 11830

Bank Nifty Future VWAP: 11824.39
MP Values Bank Nifty Futures: VAH - 11900, POC - 11846, VAL - 11792

TARGET BANKNIFTY
Buy BankNifty Future above 11870 - 11942 - 12030 - 12140 SL - 11829
Sell BankNifty Future below 11820 - 11757 - 10648 - 11560 SL – 11845

INTRADAY TRADE
Reliance Industries: Buy above 1054 for targets of 1056, 1063, 1072 SL 1046
Reliance Industries: Sell below 1042 for targets of 1040, 1034, 1023 SL 1052
OnMobile: Buy above 306 for targets of 310, 316 SL 299
Gravita: Buy above 428 for targets of 432, 439 SL 419

SCORE SHEET
BGREnergy: Buy above 538 for targets of 544, 554 SL 529: Target 550.40 achieved
UFlex: Buy above 156 for targets of 158, 164 SL 151: Target 163.40 achieved

POSITIONAL TRADE
Pateleng: Buy above 191 for target of 211 SL 186 (One Week)
UCOBank: Buy above 118 for target of 128 SL 114 (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