Market outlook for 03/05/11

Nifty closed down 48.20 points (0.84%) at 5701.30 while Nifty Future closed at 5725.40 premium of 24.10 points.
Bank Nifty closed down 239.95 points (2.09%) at 11243.80 while Future closed at 11284.00 premium of 40.20 points.

• FII sold in Cash (Net sell 261.03 Crore)
• FII sold in index option, index future and stock future (Net sell 1209.25 Crore)
• DII sold in Cash (Net sell 150.52 Crore)
• US futures are trading flat.
• Global cues are flat.
• SGX nifty is flat as of now.
• Most Active Nifty May Call Option: 5800 and 5900.
• Most Active Nifty May Put Options: 5700 and 5600.
• Advance Decline for the day was 432:967.

NIFTY TECHNICAL

Current Spot: 5701.30
Pivot: 5721
5DEMA: 5768
10DEMA: 5792
20DEMA: 5777
50DEMA: 5672
RSI (15 days): 46.95
Parabolic SAR: 5908
Supports: 5668 - 5634 - 5580
Resistance: 5755 - 5809 - 5843
DeMark’s: 5651 - 5738

Nifty Future VWAP: 5735.29
MP Values Futures: VAH - 5756, POC - 5734, VAL - 5712

TARGET NIFTY
Buy Nifty Future above 5744 - 5773 - 5824 - 5860 SL - 5729
Sell Nifty Future below 5717 - 5692 - 5656 - 5605 SL - 5742

BANKNIFTY TECHNICAL

Current Spot: 11243.80
Pivot: 11331
5DEMA: 11530
10DEMA: 11618
20DEMA: 11588
50DEMA: 11303
RSI (15 days): 42.84
Parabolic SAR: 11963
Supports: 11118 - 10992 - 10779
Resistance: 11457 - 11669 - 11795
DeMark’s: 11055 - 11394

Bank Nifty Future VWAP: 11316.58
MP Values Bank Nifty Futures: VAH - 11412, POC - 11330, VAL - 11248

TARGET BANKNIFTY
Buy BankNifty Future above 11376 - 11500 - 11710 - 11850 SL - 11349
Sell BankNifty Future below 11267 - 11151 - 11013 - 10810 SL - 11373

INTRADAY TRADE
Reliance Industries: Buy above 976 for targets of 978, 989, 1002 SL 969
Reliance Industries: Sell below 961 for targets of 959, 951, 935 SL 973
JetAirways: Buy above 489 for targets of 492, 498 SL 484
IOB: Buy above 162 for targets of 165, 170 SL 158

SCORE SHEET
Jublfood: Buy above 742 for targets of 750, 770 SL 729: Target 748.70 achieved
AsianPaint: Buy above 2785 for targets of 2800, 2830 SL 2755: Target 2819 achieved

POSITIONAL TRADE
Sintex: Buy above 178 for target of 190 SL 174 (One Week)
Chamblfert: Buy above 89 for target of 95 SL 87 (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