Market outlook for 08/04/11

Nifty closed down 6.05 points (0.10%) at 5885.70 while Nifty April Future closed at 5902 premium of 16.30 points.
Bank Nifty closed up 24.35 points (0.21%) at 11754.40 while April Future closed at 11801.25 premium of 46.85 points.

• FII bought in Cash (Net buy 220.59 Crore)
• FII sold in index future, stock future but bought in stock option (Net sell 306.01 Crore)
• DII sold in Cash (Net sell 212.16 Crore)
• US market is trading flat to negative.
• Global cues are flat to negative.
• SGX nifty is negative 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 951:464.

NIFTY TECHNICAL

Current Spot: 5885.70
Pivot: 5886
5DEMA: 5869
10DEMA: 5800
20DEMA: 5697
50DEMA: 5624
RSI (15 days): 67.18
Parabolic SAR: 5675
Supports: 5866 - 5845
Resistance: 5906 - 5926
DeMark’s: 5856 - 5896

Nifty Future VWAP: 5902.96
MP Values Futures: VAH - 5910, POC - 5894, VAL - 5882

TARGET NIFTY
Buy Nifty Future above 5910 - 5925 - 5952 - 5977 SL - 5899
Sell Nifty Future below 5893 - 5881 - 5857 - 5830 SL - 5909

BANKNIFTY TECHNICAL

Current Spot: 11754.40
Pivot: 11745
5DEMA: 11724
10DEMA: 11599
20DEMA: 11373
50DEMA: 11090
RSI (15 days): 64.40
Parabolic SAR: 11211
Supports: 11666 - 11577
Resistance: 11834 - 11914
DeMark’s: 11705 - 11874

Bank Nifty Future VWAP: 11796.67
MP Values Bank Nifty Futures: VAH - 11826, POC - 11772, VAL - 11718

TARGET BANKNIFTY
Buy BankNifty Future above 11810 - 11880 - 11965 - 12060 SL - 11785
Sell BankNifty Future below 11773 - 11711 - 10615 - 11530 SL – 11804

INTRADAY TRADE
Reliance Industries: Buy above 1045 for targets of 1047, 1051, 1058 SL 1039
Reliance Industries: Sell below 1036 for targets of 1035, 1032, 1026 SL 1044
YesBank: Buy above 332 for targets of 335, 340 SL 326
Bhartiship: Buy above 181 for targets of 184, 189 SL 176

SCORE SHEET
Polaris: Buy above 210 for targets of 213, 219 SL 205: Target 213.40 achieved
Jaicorpltd: Buy above 201 for targets of 204, 209 SL 192: Target 208.80 achieved

POSITIONAL TRADE
Gitanjali: Buy above 284 for target of 299 SL 276 (One Week)
KFA: Buy above 48.5 for target of 52 SL 47 (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