Market outlook for 09/05/11

Nifty closed up 91.60 points (1.68%) at 5551.45 while Nifty Future closed at 5555.00 premium of 3.55 points.
Bank Nifty closed up 415.00 points (3.87%) at 11145.10 while Future closed at 11143.90 discount of 1.20 points.

• FII sold in Cash (Net sell 655.34 Crore)
• FII bought in index future, index option and stock future (Net buy 2180.78 Crore)
• DII bought in Cash (Net buy 1018.04 Crore)
• US futures ended positive.
• Global cues are flat.
• SGX nifty is flat as of now.
• Most Active Nifty May Call Option: 5500 and 5600.
• Most Active Nifty May Put Options: 5500 and 5400.
• Advance Decline for the day was 898:502.

NIFTY TECHNICAL

Current Spot: 5551.45
Pivot: 5529
5DEMA: 5573
10DEMA: 5645
20DEMA: 5694
50DEMA: 5647
RSI (15 days): 41.29
Parabolic SAR: 5797
Supports: 5494 - 5437 - 5403
Resistance: 5586 - 5621 - 5678
DeMark’s: 5512 - 5604

Nifty Future VWAP: 5524.33
MP Values Futures: VAH - 5552, POC - 5522, VAL - 5492

TARGET NIFTY
Buy Nifty Future above 5559 - 5594 - 5636 - 5700 SL - 5529
Sell Nifty Future below 5524 - 5493 - 5429 - 5387 SL - 5541

BANKNIFTY TECHNICAL

Current Spot: 11145.10
Pivot: 11021
5DEMA: 11070
10DEMA: 11243
20DEMA: 11370
50DEMA: 11239
RSI (15 days): 45.14
Parabolic SAR: 11649
Supports: 10875 - 10605 - 10459
Resistance: 11291 - 11437 - 11707
DeMark’s: 10948 - 11364

Bank Nifty Future VWAP: 11032.05
MP Values Bank Nifty Futures: VAH - 11098, POC - 10984, VAL - 10870

TARGET BANKNIFTY
Buy BankNifty Future above 11228 - 11445 - 11652 - 11935 SL - 10209
Sell BankNifty Future below 11127 - 10940 - 10718 - 10460 SL - 10225

INTRADAY TRADE
Reliance Industries: Buy above 957 for targets of 959, 963, 969 SL 952
Reliance Industries: Sell below 950 for targets of 948, 944, 940 SL 956
YesBank: Buy above 302 for targets of 305, 311 SL 296
JetAirways: Buy above 495 for targets of 505, 519 SL 479

SCORE SHEET
Alchem: Buy above 229 for targets of 232, 236 SL 223: Target 234.70 achieved
Herohonda: Buy above 1704 for targets of 1720, 1745 SL 1670: Target 1780 achieved

POSITIONAL TRADE
Bpcl: Buy above 669 for target of 696 SL 659 (One Week)
UcoBank: Buy above 101 for target of 109 SL 97 (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