Market outlook for 30/08/11

Nifty closed up 171.80 points (3.62%) at 4919.60 while Nifty Future closed at 4933.15, premium of 13.55 points.
Bank Nifty closed up 367.90 points (4.10%) at 9342.45 while Future closed at 9345.00, premium of 2.55 points.

• FII bought in Cash (Net buy 366.19 Crore)
• FII bought in index future, stock future but sold in index option (Net buy 1152.22 Crore)
• DII sold in Cash (Net sell 325.50 Crore)
• US futures ended in Green.
• Global cues are flat to positive.
• SGX nifty is positive as of now.
• Most Active Nifty Call Option: 4900 and 5000.
• Most Active Nifty Put Options: 4800 and 4700.
• Advance Decline for the day was 1252:209.

NIFTY TECHNICAL

Current Spot: 4919.60
Pivot: 4887
5DEMA: 4872
10DEMA: 4929
20DEMA: 5059
50DEMA: 5262
RSI (15 days): 37.99
Parabolic SAR: 4720
Supports: 4839 - 4758 - 4711
Resistance: 4967 - 5015 - 5096
NF VIX Range: 4868 - 4998

Nifty Future VWAP: 4886.89
MP Values Nifty Future: VAH - 4918, POC - 4870, VAL - 4822

TARGET NIFTY
Buy Nifty Future above 4937 - 4984 - 5035 - 5120 SL - 4892
Sell Nifty Future below 4887 - 4843 - 4750 - 4700 SL - 4907

BANKNIFTY TECHNICAL

Current Spot: 9342.45
Pivot: 9273
5DEMA: 9286
10DEMA: 9492
20DEMA: 9864
50DEMA: 10367
RSI (15 days): 32.70
Parabolic SAR: 9378
Supports: 9169 - 8995 - 8891
Resistance: 9447 - 9552 - 9725
Bank Nifty VIX Range: 9197 - 9493

Bank Nifty Future VWAP: 9259.45
MP Values Bank Nifty Future: VAH - 9283, POC - 9193, VAL - 9103

TARGET BANKNIFTY
Buy BankNifty Future above 9352 - 9455 - 9570 - 9750 SL - 9255
Sell BankNifty Future below 9246 - 9150 - 8950 - 8840 SL - 9275

INTRADAY TRADE
Reliance Industries: Buy above 757 for targets of 760, 765, 773 SL 746
Reliance Industries: Sell below 744 for targets of 741, 736, 728 SL 750
Relcapital: Buy above 380 for targets of 384, 392 SL 371
TataSteel: Buy above 450 for targets of 455, 463 SL 440

SCORE SHEET
UFlex: Buy above 179 for targets of 182, 186 SL 177: Target 188.20 achieved
Gitanjali: Buy above 305 for targets of 307, 311 SL 301: Target 315.00 achieved

POSITIONAL TRADE
Jpassociat: Buy above 58.5 for target of 60.4 SL 57.3 (2-3 Days)
IFCI: Buy above 39 for target of 43 SL 37.5 (1 Week)

This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.

Thanks and Regards

S&P Wealth Creators