Market outlook for 06/05/11

Nifty closed down 77.30 points (1.40%) at 5459.85 while Nifty Future closed at 5458.40 discount of 1.45 points.
Bank Nifty closed down 183.25 points (1.68%) at 10730.10 while Future closed at 10748.45 premium of 18.35 points.

• FII sold in Cash (Net sell 779.48 Crore)
• FII sold in index future but bought in index option and stock future (Net sell 1029.62 Crore)
• DII bought in Cash (Net buy 937.23 Crore)
• US futures are trading flat to Negative.
• Global cues are flat to Negative.
• SGX nifty is flat 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 335:1078.

NIFTY TECHNICAL

Current Spot: 5459.85
Pivot: 5488
5DEMA: 5584
10DEMA: 5668
20DEMA: 5709
50DEMA: 5651
RSI (15 days): 34.23
Parabolic SAR: 5837
Supports: 5416 - 5371 - 5299
Resistance: 5532 - 5605 - 5649
DeMark’s: 5393 - 5510

Nifty Future VWAP: 5496.04
MP Values Futures: VAH - 5524, POC - 5476, VAL - 5444

TARGET NIFTY
Buy Nifty Future above 5488 - 5532 - 5605 - 5649 SL - 5469
Sell Nifty Future below 5440 - 5416 - 5371 - 5299 SL - 5469

BANKNIFTY TECHNICAL

Current Spot: 10730.10
Pivot: 10798
5DEMA: 11033
10DEMA: 11264
20DEMA: 11394
50DEMA: 11243
RSI (15 days): 33.09
Parabolic SAR: 11757
Supports: 10609 - 10488 - 10299
Resistance: 10919 - 11109 - 11230
DeMark’s: 10549 - 10859

Bank Nifty Future VWAP: 10841.85
MP Values Bank Nifty Futures: VAH - 10902, POC - 10776, VAL - 10702

TARGET BANKNIFTY
Buy BankNifty Future above 10827 - 10930 - 11115 - 11235 SL - 10809
Sell BankNifty Future below 10735 - 10640 - 10520 - 10360 SL - 10820

INTRADAY TRADE
Reliance Industries: Buy above 957 for targets of 959, 968, 970 SL 950
Reliance Industries: Sell below 946 for targets of 944, 936, 925 SL 955
Alchem: Buy above 229 for targets of 232, 236 SL 223
Herohonda: Buy above 1704 for targets of 1720, 1745 SL 1670

SCORE SHEET
IRB: Buy above 167 for targets of 169, 173 SL 164: Target 171.75 achieved
Bharatras: Buy above 152 for targets of 154, 158 SL 149: Target 153.80 achieved

POSITIONAL TRADE
Apil: Buy above 590 for target of 646 SL 569 (One Week)
Jisljaleqs: Buy above 180 for target of 191 SL 177 (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