Market outlook for 07/06/11

Nifty closed up 15.30 points (0.28%) at 5532.05 while Nifty Future closed at 5534.20, premium of 2.15 points.
Bank Nifty closed up 72.65 points (0.67%) at 10854.65 while Future closed at 10831.15, discount of 23.50 points.

• FII sold in Cash (Net sell 201.78 Crore)
• FII bought in index option but sold in index future, stock future (Net buy 16.43 Crore)
• DII bought in Cash (Net buy 184.99 Crore)
• US futures are trading flat to negative.
• 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 561:834.

NIFTY TECHNICAL

Current Spot: 5532.05
Pivot: 5518
5DEMA: 5527
10DEMA: 5510
20DEMA: 5518
50DEMA: 5561
RSI (15 days): 49.61
Parabolic SAR: 5416
Supports: 5494 - 5455 - 5431
Resistance: 5557 - 5581 - 5619
DeMark’s: 5506 - 5569

Nifty Future VWAP: 5508.82
MP Values Futures: VAH - 5528, POC - 5507, VAL - 5486

TARGET NIFTY
Buy Nifty Future above 5538 - 5560 - 5588 - 5631 SL - 5516
Sell Nifty Future below 5510 - 5493 - 5450 - 5422 SL - 5523

BANKNIFTY TECHNICAL

Current Spot: 10854.65
Pivot: 10804
5DEMA: 10835
10DEMA: 10797
20DEMA: 10837
50DEMA: 10986
RSI (15 days): 48.73
Parabolic SAR: 10559
Supports: 10733 - 10612 - 10542
Resistance: 10925 - 10995 - 11117
DeMark’s: 10768 - 10960

Bank Nifty Future VWAP: 10747.84
MP Values Bank Nifty Futures: VAH - 10780, POC - 10713, VAL - 10651

TARGET BANKNIFTY
Buy BankNifty Future above 10839 - 10906 - 10986 - 11117 SL - 10775
Sell BankNifty Future below 10764 - 10706 - 10575 - 10495 SL - 10786

INTRADAY TRADE
Reliance Industries: Buy above 940 for targets of 942, 946, 952 SL 933
Reliance Industries: Sell below 931 for targets of 929, 925, 920 SL 937
Raymond: Buy above 381 for targets of 385, 393 SL 371
Aanjameya: Buy above 380 for targets of 384, 392 SL 369

SCORE SHEET
Eclerx: Buy above 835 for targets of 845, 858 SL 816: Target 853.90 achieved
Uflex: Buy above 200 for targets of 202, 207 SL 196.5: Target 213.45 achieved

POSITIONAL TRADE
Mcloedruss: Buy above 262 for target of 278 SL 255 (One Week)
Coreprotec: Buy above 286 for target of 310 SL 274 (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