Market outlook for 07/04/11

Nifty closed down 18.30 points (0.31%) at 5891.75 while Nifty April Future closed at 5910.95 premium of 19.20 points.
Bank Nifty closed down 68.85 points (0.58%) at 11730.05 while April Future closed at 11785.05 premium of 55 points.

• FII bought in Cash (Net buy 528.47 Crore)
• FII bought in stock option but sold in index future, stock future (Net buy 150.85 Crore)
• DII sold in Cash (Net sell 531.05 Crore)
• US market is trading in Green.
• 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 851:548.

NIFTY TECHNICAL

Current Spot: 5891.75
Pivot: 5902
5DEMA: 5861
10DEMA: 5781
20DEMA: 5678
50DEMA: 5626
RSI (15 days): 67.38
Parabolic SAR: 5624
Supports: 5859 - 5826
Resistance: 5935 - 5977
DeMark’s: 5842 - 5918

Nifty Future VWAP: 5918.60
MP Values Futures: VAH - 5936, POC - 5914, VAL - 5892

TARGET NIFTY
Buy Nifty Future above 5925 - 5958 - 5999 - 6049 SL - 5908
Sell Nifty Future below 5902 - 5873 - 5835 - 5785 SL - 5924

BANKNIFTY TECHNICAL

Current Spot: 11730.05
Pivot: 11752
5DEMA: 11709
10DEMA: 11564
20DEMA: 11333
50DEMA: 11074
RSI (15 days): 63.86
Parabolic SAR: 11118
Supports: 11665 - 11600
Resistance: 11817 - 11903
DeMark’s: 11632 - 11784

Bank Nifty Future VWAP: 11804.67
MP Values Bank Nifty Futures: VAH - 11832, POC - 11794, VAL - 11756

TARGET BANKNIFTY
Buy BankNifty Future above 11814 - 11872 - 11960 - 12030 SL - 11789
Sell BankNifty Future below 11767 - 11720 - 10648 - 11565 SL – 11811

INTRADAY TRADE
Reliance Industries: Buy above 1051 for targets of 1053, 1057, 1062 SL 1044
Reliance Industries: Sell below 1040 for targets of 1038, 1035, 1028 SL 1049
Polaris: Buy above 210 for targets of 213, 219 SL 205
Jaicorpltd: Buy above 201 for targets of 204, 209 SL 192

SCORE SHEET
OnMobile: Buy above 306 for targets of 310, 316 SL 299: Target 309.90 achieved
Gravita: Buy above 428 for targets of 432, 439 SL 419: SL Hit

POSITIONAL TRADE
SesaGoa: Buy above 326 for target of 345 SL 315 (One Week)
ONGC: Buy above 298 for target of 312 SL 290 (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