Market outlook for 04/05/11

Nifty closed down 136.05 points (2.39%) at 5565.25 while Nifty Future closed at 5568.70 premium of 3.45 points.
Bank Nifty closed down 345.50 points (3.07%) at 10898.30 while Future closed at 10918.85 premium of 20.55 points.

• FII sold in Cash (Net sell 1178.66 Crore)
• FII sold in index future and stock future but bought in index option (Net sell 674.68 Crore)
• DII bought in Cash (Net buy 606.83 Crore)
• US futures are trading flat to Negative.
• Global cues are flat.
• SGX nifty is flat to negative as of now.
• Most Active Nifty May Call Option: 5700 and 5800.
• Most Active Nifty May Put Options: 5700 and 5600.
• Advance Decline for the day was 200:1226.

NIFTY TECHNICAL

Current Spot: 5565.25
Pivot: 5610
5DEMA: 5700
10DEMA: 5751
20DEMA: 5757
50DEMA: 5676
RSI (15 days): 38.86
Parabolic SAR: 5894
Supports: 5510 - 5454 - 5354
Resistance: 5666 - 5766 - 5822
DeMark’s: 5482 - 5638

Nifty Future VWAP: 5641.49
MP Values Futures: VAH - 5726, POC - 5686, VAL - 5618

TARGET NIFTY
Buy Nifty Future above 5622 - 5674 - 5780 - 5840 SL - 5609
Sell Nifty Future below 5560 - 5515 - 5455 - 5350 SL - 5621

BANKNIFTY TECHNICAL

Current Spot: 10898.30
Pivot: 11032
5DEMA: 11319
10DEMA: 11487
20DEMA: 11523
50DEMA: 11305
RSI (15 days): 35.54
Parabolic SAR: 11918
Supports: 10715 - 10532 - 10215
Resistance: 11215 - 11533 - 11716
DeMark’s: 10624 - 11124

Bank Nifty Future VWAP: 11116.32
MP Values Bank Nifty Futures: VAH - 11322, POC - 11154, VAL - 10986

TARGET BANKNIFTY
Buy BankNifty Future above 11063 - 11238 - 11540 - 11750 SL - 11039
Sell BankNifty Future below 10902 - 10735 - 10550 - 10240 SL - 11060

INTRADAY TRADE
Reliance Industries: Buy above 956 for targets of 958, 965, 975 SL 948
Reliance Industries: Sell below 939 for targets of 937, 929, 918 SL 953
Geship: Buy above 287 for targets of 290, 295 SL 281
Talwalkars: Buy above 238 for targets of 241, 246 SL 233

SCORE SHEET
JetAirways: Buy above 489 for targets of 492, 498 SL 484: Target 492.65 achieved
IOB: Buy above 162 for targets of 165, 170 SL 158: Target 163.80 achieved and then SL hit

POSITIONAL TRADE
Amrutanjan: Buy above 795 for target of 840 SL 788 (One Week)
RajeshExpo: Buy above 86 for target of 93 SL 84 (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