Market outlook for 03/08/11

Nifty closed down 60.25 points (1.09%) at 5456.55 while Nifty Future closed at 5466.50, premium of 9.95 points.
Bank Nifty closed down 195.70 points (1.79%) at 10743.30 while Future closed at 10776.75, premium of 33.45 points.

• FII sold in Cash (Net sell 201.68 Crore)
• FII sold in index future, stock future but bought in index option (Net sell 651.17 Crore)
• DII bought in Cash (Net buy 139.88 Crore)
• US futures are trading flat to negative.
• Global cues are flat to negative.
• SGX nifty is in flat as of now.
• Most Active Nifty Call Option: 5500 and 5600.
• Most Active Nifty Put Options: 5500 and 5400.
• Advance Decline for the day was 310:1124.

NIFTY TECHNICAL

Current Spot: 5456.55
Pivot: 5462
5DEMA: 5502
10DEMA: 5532
20DEMA: 5549
50DEMA: 5550
RSI (15 days): 42.56
Parabolic SAR: 5677
Supports: 5428 - 5400 - 5365
Resistance: 5491 - 5525 - 5553
NF VIX Range: 5409 - 5524

Nifty Future VWAP: 5464.40
MP Values Nifty Spot: VAH - 5476, POC - 5462, VAL - 5448

TARGET NIFTY
Buy Nifty Future above 5471 - 5496 - 5529 - 5562 SL - 5459
Sell Nifty Future below 5458 - 5436 - 5403 - 5371 SL - 5469

BANKNIFTY TECHNICAL

Current Spot: 10743.30
Pivot: 10789
5DEMA: 10897
10DEMA: 10992
20DEMA: 11048
50DEMA: 11024
RSI (15 days): 40.80
Parabolic SAR: 11366
Supports: 10675 - 10606 - 10493
Resistance: 10857 - 10971 - 11039
Bank Nifty VIX Range: 10638 - 10915

Bank Nifty Future VWAP: 10799.66
MP Values Bank Nifty Spot: VAH - 10847, POC - 10794, VAL - 10741

TARGET BANKNIFTY
Buy BankNifty Future above 10819 - 10874 - 10977 - 11046 SL - 10799
Sell BankNifty Future below 10761 - 10713 - 10644 - 10541 SL - 10816

INTRADAY TRADE
Reliance Industries: Buy above 839 for targets of 842, 847, 855 SL 829
Reliance Industries: Sell below 827 for targets of 824, 819, 811 SL 834
Castrol: Buy above 567 for targets of 572, 579 SL 558
IGL: Buy above 425 for targets of 428, 435 SL 418

SCORE SHEET
Jublfood: Buy above 895 for targets of 906, 920 SL 880: SL Hit
Godrejind: Buy above 221 for targets of 223, 226 SL 218: Target 224.50 achieved

POSITIONAL TRADE
Adanient: Buy above 675 for target of 715 SL 655 (2-3 Days)
Chambalfert: Buy above 92 for target of 98 SL 91 (1 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