Market outlook for 06/06/11

Nifty closed down 33.60 points (0.61%) at 5516.75 while Nifty Future closed at 5523.50, premium of 6.75 points.
Bank Nifty closed down 57.25 points (0.53%) at 10782.00 while Future closed at 10761.60, discount of 20.40 points.

• FII bought in Cash (Net buy 445.26 Crore)
• FII bought in index option, index future but sold stock future (Net buy 484.66 Crore)
• DII sold in Cash (Net sell 355.51 Crore)
• US futures are trading 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 584:819.

NIFTY TECHNICAL

Current Spot: 5516.75
Pivot: 5543
5DEMA: 5525
10DEMA: 5505
20DEMA: 5517
50DEMA: 5568
RSI (15 days): 48.18
Parabolic SAR: 5395
Supports: 5481 - 5445 - 5383
Resistance: 5579 - 5641 - 5676
DeMark’s: 5561 - 5463

Nifty Future VWAP: 5552.32
MP Values Futures: VAH - 5572, POC - 5528, VAL - 5510

TARGET NIFTY
Buy Nifty Future above 5551 - 5582 - 5644 - 5681 SL - 5539
Sell Nifty Future below 5515 - 5488 - 5451 - 5389 SL - 5550

BANKNIFTY TECHNICAL

Current Spot: 10782.00
Pivot: 10827
5DEMA: 10826
10DEMA: 10784
20DEMA: 10836
50DEMA: 11006
RSI (15 days): 46.46
Parabolic SAR: 10516
Supports: 10706 - 10631 - 10511
Resistance: 10902 - 11022 - 11098
DeMark’s: 10669 - 10864

Bank Nifty Future VWAP: 10818.15
MP Values Bank Nifty Futures: VAH - 10853, POC - 10769, VAL - 10723

TARGET BANKNIFTY
Buy BankNifty Future above 10816 - 10888 - 11020 - 11100 SL - 10799
Sell BankNifty Future below 10745 - 10680 - 10595 - 10465 SL - 10813

INTRADAY TRADE
Reliance Industries: Buy above 949 for targets of 952, 959, 972 SL 942
Reliance Industries: Sell below 930 for targets of 926, 919, 910 SL 947
Eclerx: Buy above 835 for targets of 845, 858 SL 816
Uflex: Buy above 200 for targets of 202, 207 SL 196.5

SCORE SHEET
Fortis: Buy above 168 for targets of 170, 173 SL 164: Target 169.70 achieved
Vipind: Buy above 795 for targets of 801, 814 SL 783: Target 810.00 achieved

POSITIONAL TRADE
Aanjameya: Buy above 358 for target of 388 SL 325 (One Week)
Manappuram: Buy above 124 for target of 134 SL 120 (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