Market outlook for 05/07/11

Nifty closed up 23.30 points (0.41%) at 5650.50 while Nifty Future closed at 5665.85, premium of 15.35 points.
Bank Nifty closed up 124.80 points (1.11%) at 11379.80 while Future closed at 11415.30, premium of 35.50 points.

• FII bought in Cash (Net buy 1131.72 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 1565.25 Crore)
• DII sold in Cash (Net sell 369.32 Crore)
• US futures are trading positive.
• Global cues are flat to positive.
• SGX nifty is positive as of now.
• Most Active Nifty Call Option: 5700 and 5800.
• Most Active Nifty Put Options: 5600 and 5500.
• Advance Decline for the day was 951:455.

NIFTY TECHNICAL

Current Spot: 5650.50
Pivot: 5654
5DEMA: 5603
10DEMA: 5545
20DEMA: 5507
50DEMA: 5548
RSI (15 days): 61.87
Parabolic SAR: 5364
Supports: 5629 - 5608 - 5583
Resistance: 5676 - 5701 - 5722
DeMark’s: 5518 - 5665

Nifty Future VWAP: 5665.04
MP Values Futures: VAH - 5673, POC - 5662, VAL - 5651

TARGET NIFTY
Buy Nifty Future above 5670 - 5685 - 5735 - 5770 SL - 5639
Sell Nifty Future below 5657 - 5645 - 5621 - 5597 SL - 5669

BANKNIFTY TECHNICAL

Current Spot: 11379.80
Pivot: 11368
5DEMA: 11208
10DEMA: 11048
20DEMA: 10922
50DEMA: 10983
RSI (15 days): 67.72
Parabolic SAR: 10683
Supports: 11334 - 11289 - 11255
Resistance: 11413 - 11447 - 11492
DeMark’s: 11351 - 11430

Bank Nifty Future VWAP: 11391.00
MP Values Bank Nifty Futures: VAH - 11413, POC - 11390, VAL - 11367

TARGET BANKNIFTY
Buy BankNifty Future above 11424 - 11445 - 11481 - 11530 SL - 11395
Sell BankNifty Future below 11383 - 11371 - 11320 - 11285 SL - 11409

INTRADAY TRADE
Reliance Industries: Buy above 875 for targets of 877, 882, 890 SL 869
Reliance Industries: Sell below 864 for targets of 862, 859, 854 SL 873
Aban: Buy above 540 for targets of 545, 558 SL 526
Vipind: Buy above 235 for targets of 238, 242 SL 230

SCORE SHEET
Hindalco: Buy above 188.7 for targets of 189, 191 SL 185: Target 190.85 achieved
Cairn: Buy above 328 for targets of 331, 336 SL 321: Target 329.70 achieved

POSITIONAL TRADE
SatyamComp: Buy above 91 for target of 100 SL 88 (One Week)
DLF: Buy above 235 for target of 245 SL 230 (2-3 Days)

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