Market outlook for 11/05/11

Nifty closed down 9.85 points (0.18%) at 5541.25 while Nifty Future closed at 5545.80 premium of 4.55 points.
Bank Nifty closed down 67.10 points (0.61%) at 11009.40 while Future closed at 11021.70 premium of 12.30 points.

• FII bought in Cash (Net buy 25.02 Crore)
• FII bought in index future, stock future and index option (Net buy 908.56 Crore)
• DII bought in Cash (Net sell 130.86 Crore)
• US futures are trading positive.
• Global cues are flat.
• 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 650:743.

NIFTY TECHNICAL

Current Spot: 5541.25
Pivot: 5550
5DEMA: 5558
10DEMA: 5612
20DEMA: 5667
50DEMA: 5625
RSI (15 days): 41.34
Parabolic SAR: 5730
Supports: 5506 - 5471 - 5428
Resistance: 5585 - 5628 - 5663
DeMark’s: 5489 - 5567

Nifty Future VWAP: 5562.24
MP Values Futures: VAH - 5580, POC - 5548, VAL - 5518

TARGET NIFTY
Buy Nifty Future above 5560 - 5592 - 5641 - 5680 SL - 5549
Sell Nifty Future below 5537 - 5510 - 5471 - 5422 SL - 5559

BANKNIFTY TECHNICAL

Current Spot: 11009.40
Pivot: 11017
5DEMA: 11051
10DEMA: 11175
20DEMA: 11310
50DEMA: 11198
RSI (15 days): 42.84
Parabolic SAR: 11464
Supports: 10938 - 10866 - 10787
Resistance: 11089 - 11169 - 11240
DeMark’s: 10902 - 11053

Bank Nifty Future VWAP: 11025.57
MP Values Bank Nifty Futures: VAH - 11100, POC - 11048, VAL - 10996

TARGET BANKNIFTY
Buy BankNifty Future above 11039 - 11103 - 11191 - 11269 SL - 11015
Sell BankNifty Future below 11005 - 10949 - 10871 - 10784 SL - 11036

INTRADAY TRADE
Reliance Industries: Buy above 958 for targets of 960, 967, 976 SL 951
Reliance Industries: Sell below 946 for targets of 944, 939, 930 SL 956
Auropharma: Buy above 195 for targets of 197, 202 SL 191
UBL: Buy above 540 for targets of 545, 555 SL 529

SCORE SHEET
Sgjhl: Buy above 243 for targets of 246, 251 SL 237: Target 244.90 achieved
NifinFire: Buy above 103 for targets of 105, 109 SL 99: Call not activated

POSITIONAL TRADE
Subex: Buy above 65 for target of 71 SL 63 (One Week)
Bergerpaint: Buy above 104 for target of 115 SL 99 (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