Market outlook for 09/06/11

Nifty closed down 29.30 points (0.53%) at 5526.85 while Nifty Future closed at 5529.85, premium of 3.00 points.
Bank Nifty closed down 82.00 points (0.75%) at 10791.45 while Future closed at 10799.45, premium of 8.00 points.

• FII bought in Cash (Net buy 50.43 Crore)
• FII bought in index option but sold in index future and stock future (Net buy 116.51 Crore)
• DII bought in Cash (Net buy 85.47 Crore)
• US futures are trading flat.
• 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 635:752.

NIFTY TECHNICAL

Current Spot: 5526.85
Pivot: 5533
5DEMA: 5534
10DEMA: 5520
20DEMA: 5522
50DEMA: 5564
RSI (15 days): 48.98
Parabolic SAR: 5452
Supports: 5509 - 5491 - 5467
Resistance: 5551 - 5574 - 5592
DeMark’s: 5500 - 5542

Nifty Future VWAP: 5534.19
MP Values Futures: VAH - 5543, POC - 5531, VAL - 5519

TARGET NIFTY
Buy Nifty Future above 5538 - 5553 - 5578 - 5600 SL - 5529
Sell Nifty Future below 5522 - 5511 - 5488 - 5463 SL - 5536

BANKNIFTY TECHNICAL

Current Spot: 10791.45
Pivot: 10813
5DEMA: 10829
10DEMA: 10807
20DEMA: 10836
50DEMA: 10985
RSI (15 days): 46.85
Parabolic SAR: 10636
Supports: 10743 - 10695 - 10626
Resistance: 10861 - 10930 - 10979
DeMark’s: 10719 - 10837

Bank Nifty Future VWAP: 10812.07
MP Values Bank Nifty Futures: VAH - 10850, POC - 10811, VAL - 10772

TARGET BANKNIFTY
Buy BankNifty Future above 10823 - 10874 - 10954 - 11019 SL - 10799
Sell BankNifty Future below 10783 - 10740 - 10675 - 10595 SL - 10820

INTRADAY TRADE
Reliance Industries: Buy above 954 for targets of 956, 959, 965 SL 947
Reliance Industries: Sell below 944 for targets of 943, 940, 934 SL 952
Vgaurd: Buy above 228 for targets of 230, 234 SL 223
Twl: Buy above 421 for targets of 425, 433 SL 413

SCORE SHEET
BajajFinsv: Buy above 548 for targets of 554, 563 SL 535: Target 564.55 achieved
Havells: Buy above 429 for targets of 433, 440 SL 421: Target 435.50 achieved

POSITIONAL TRADE
IRB: Buy above 165 for target of 175 SL 162 (One Week)
Hexaware: Buy above 71 for target of 77 SL 69 (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