Market outlook for 03/06/11

Nifty closed down 41.65 points (0.74%) at 5550.35 while Nifty Future closed at 5558.45, premium of 8.10 points.
Bank Nifty closed down 194.15 points (1.76%) at 10839.25 while Future closed at 10825.95, discount of 13.30 points.

• FII sold in Cash (Net sell 14.79 Crore)
• FII bought in index option, index future but sold stock future (Net buy 1364.08 Crore)
• DII sold in Cash (Net sell 130.60 Crore)
• US futures are trading flat.
• 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 445:960.

NIFTY TECHNICAL

Current Spot: 5550.35
Pivot: 5547
5DEMA: 5529
10DEMA: 5502
20DEMA: 5517
50DEMA: 5570
RSI (15 days): 50.62
Parabolic SAR: 5376
Supports: 5525 - 5501 - 5479
Resistance: 5572 - 5593 - 5618
DeMark’s: 5536 - 5582

Nifty Future VWAP: 5555.29
MP Values Futures: VAH - 5563, POC - 5552, VAL - 5541

TARGET NIFTY

Buy Nifty Future above 5563 - 5577 - 5598 - 5623 SL - 5549
Sell Nifty Future below 5547 - 5537 - 5512 - 5491 SL - 5559

BANKNIFTY TECHNICAL

Current Spot: 10839.25
Pivot: 10841
5DEMA: 10847
10DEMA: 10785
20DEMA: 10841
50DEMA: 11011
RSI (15 days): 47.90
Parabolic SAR: 10469
Supports: 10801 - 10762 - 10722
Resistance: 10880 - 10920 - 10959
DeMark’s: 10781 - 10860

Bank Nifty Future VWAP: 10832.77
MP Values Bank Nifty Futures: VAH - 10861, POC - 10837, VAL - 10813

TARGET BANKNIFTY
Buy BankNifty Future above 10834 - 10872 - 10924 - 10975 SL - 10819
Sell BankNifty Future below 10811 - 10780 - 10729 - 10677 SL - 10832

INTRADAY TRADE
Reliance Industries: Buy above 953 for targets of 956, 962, 970 SL 945
Reliance Industries: Sell below 943 for targets of 941, 936, 930 SL 950
Fortis: Buy above 168 for targets of 170, 173 SL 164
Vipind: Buy above 795 for targets of 801, 814 SL 783

SCORE SHEET
Voltamp: Buy above 585 for targets of 590, 600 SL 574: Target 597.00 achieved
Pateleng: Buy above 158 for targets of 160, 164 SL 153: Target 160.00 achieved

POSITIONAL TRADE
Hindunilvr: Buy above 323 for target of 340 SL 317 (One Week)
RajeshExpo: Buy above 97 for target of 104 SL 95 (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