Market outlook for 05/05/11

Nifty closed down 28.10 points (0.50%) at 5537.15 while Nifty Future closed at 5538.05 premium of 0.90 points.
Bank Nifty closed up 15.05 points (0.14%) at 10913.35 while Future closed at 10929.10 premium of 15.75 points.

• FII sold in Cash (Net sell 992.14 Crore)
• FII sold in index future and stock future but bought in index option (Net sell 250.09 Crore)
• DII bought in Cash (Net buy 914.10 Crore)
• US futures are trading flat to Negative.
• Global cues are flat to Negative.
• SGX nifty is negative as of now.
• Most Active Nifty May Call Option: 5600 and 5700.
• Most Active Nifty May Put Options: 5500 and 5400.
• Advance Decline for the day was 447:964.

NIFTY TECHNICAL

Current Spot: 5537.15
Pivot: 5540
5DEMA: 5646
10DEMA: 5712
20DEMA: 5736
50DEMA: 5659
RSI (15 days): 37.78
Parabolic SAR: 5871
Supports: 5501 - 5464 - 5425
Resistance: 5576 - 5615 - 5652
DeMark’s: 5482 - 5558

Nifty Future VWAP: 5542.77
MP Values Futures: VAH - 5564, POC - 5544, VAL - 5524

TARGET NIFTY
Buy Nifty Future above 5551 - 5581 - 5625 - 5660 SL - 5539
Sell Nifty Future below 5530 - 5505 - 5470 - 5430 SL - 5550

BANKNIFTY TECHNICAL

Current Spot: 10913.35
Pivot: 10908
5DEMA: 11184
10DEMA: 11383
20DEMA: 11464
50DEMA: 11268
RSI (15 days): 36.27
Parabolic SAR: 11851
Supports: 10803 - 10692 - 10587
Resistance: 11019 - 11124 - 11234
DeMark’s: 10855 - 11071

Bank Nifty Future VWAP: 10929.59
MP Values Bank Nifty Futures: VAH - 10998, POC - 10942, VAL - 10886

TARGET BANKNIFTY
Buy BankNifty Future above 10944 - 11030 - 11145 - 11250 SL - 10919
Sell BankNifty Future below 10912 - 10831 - 10730 - 10615 SL - 10941

INTRADAY TRADE
Reliance Industries: Buy above 953 for targets of 955, 962, 971 SL 946
Reliance Industries: Sell below 943 for targets of 941, 935, 926 SL 951
IRB: Buy above 167 for targets of 169, 173 SL 164
Bharatras: Buy above 152 for targets of 154, 158 SL 149

SCORE SHEET
Geship: Buy above 287 for targets of 290, 295 SL 281: Call not activated
Talwalkars: Buy above 238 for targets of 241, 246 SL 233: Target 253.40 achieved

POSITIONAL TRADE
ONGC: Buy above 311 for target of 330 SL 304 (One Week)
Dcb: Buy above 61 for target of 66 SL 59 (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