Market outlook for 10/06/11

Nifty closed down 5.80 points (0.10%) at 5521.05 while Nifty Future closed at 5519.15, discount of 1.90 points.
Bank Nifty closed down 6.05 points (0.06%) at 10785.40 while Future closed at 10788.45, premium of 3.05 points.

• FII sold in Cash (Net sell 24.73 Crore)
• FII sold in index future and stock future but bought in index option (Net sell 54.08 Crore)
• DII bought in Cash (Net buy 8.97 Crore)
• US futures are trading in Green.
• Global cues are positive.
• 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 605:795.

NIFTY TECHNICAL

Current Spot: 5521.05
Pivot: 5521
5DEMA: 5529
10DEMA: 5520
20DEMA: 5522
50DEMA: 5563
RSI (15 days): 48.52
Parabolic SAR: 5467
Supports: 5502 - 5483 - 5464
Resistance: 5540 - 5559 - 5578
DeMark’s: 5493 - 5531

Nifty Future VWAP: 5518.57
MP Values Futures: VAH - 5530, POC - 5517, VAL - 5504

TARGET NIFTY
Buy Nifty Future above 5523 - 5542 - 5567 - 5593 SL - 5509
Sell Nifty Future below 5508 - 5496 - 5470 - 5445 SL - 5521

BANKNIFTY TECHNICAL

Current Spot: 10785.40
Pivot: 10790
5DEMA: 10815
10DEMA: 10803
20DEMA: 10831
50DEMA: 10981
RSI (15 days): 46.69
Parabolic SAR: 10669
Supports: 10730 - 10675 - 10614
Resistance: 10846 - 10906 - 10961
DeMark’s: 10760 - 10876

Bank Nifty Future VWAP: 10787.07
MP Values Bank Nifty Futures: VAH - 10813, POC - 10776, VAL - 10739

TARGET BANKNIFTY
Buy BankNifty Future above 10797 - 10845 - 10907 - 10972 SL - 10780
Sell BankNifty Future below 10770 - 10729 - 10665 - 10603 SL - 10791

INTRADAY TRADE
Reliance Industries: Buy above 956 for targets of 958, 961, 967 SL 951
Reliance Industries: Sell below 948 for targets of 946, 943, 939 SL 955
Pateleng: Buy above 160 for targets of 163, 167 SL 157
HindOilexp: Buy above 198 for targets of 201, 205 SL 193

SCORE SHEET
Vgaurd: Buy above 228 for targets of 230, 234 SL 223: Target 232.80 achieved
Twl: Buy above 421 for targets of 425, 433 SL 413: Target 427.80 achieved

POSITIONAL TRADE
Hitachihom: Buy above 200 for target of 218 SL 196 (One Week)
Firstlease: Buy above 99 for target of 107 SL 96 (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