Market outlook for 01/02/11

Nifty closed down 6.25 points (0.11%) at 5505.90 while Nifty February Future closed at 5523.55 premium of 17.65 points
Bank Nifty closed up 63.60 points (0.60%) at 10641.85 while February Future closed at 10672.10 premium of 30.25 points.

• FII sold in Cash (Net sell 920.38 Crore)
• FII bought in index option but sold in index future, stock future (Net buy 107.34 Crore)
• DII bought in Cash (Net buy 1008.14 Crore)
• US market is trading positive.
• Global cues are positive.
• SGX nifty is in flat as of now.
• Most Active Nifty Feb Call Option: 5500 and 5600.
• Most Active Nifty Feb Put Options: 5500 and 5400.
• Advance Decline for the day was 460:918

NIFTY TECHNICAL

Current Spot: 5505.90
Pivot: 5483
5DEMA: 5582
10DEMA: 5648
20DEMA: 5738
50DEMA: 5867
RSI (15 days): 30.75
Parabolic SAR: 5725
Supports: 5439 - 5373
Resistance: 5550 - 5593

Nifty Future VWAP: 5486.53
MP Values Futures: VAH - 5526, POC - 5498, VAL - 5470

TARGET NIFTY
Buy Nifty Future above 5528 - 5564 - 5606 - 5670 SL - 5499
Sell Nifty Future below 5494 - 5462 - 5398 - 5355 SL - 5510

BANKNIFTY TECHNICAL

Current Spot: 10641.85
Pivot: 10579
5DEMA: 10705
10DEMA: 10764
20DEMA: 10915
50DEMA: 11362
RSI (15 days): 41.15
Parabolic SAR: 11257
Supports: 10463 - 10283
Resistance: 10759 - 10876

Bank Nifty Future VWAP: 10567.13
MP Values Bank Nifty Futures: VAH - 10682, POC - 10586, VAL - 10490

TARGET BANKNIFTY
Buy BankNifty Future above 10680 - 10782 - 10897 - 11074 SL - 10604
Sell BankNifty Future below 10594 - 10500 - 10322 - 10207 SL - 10625

INTRADAY TRADE
Reliance Industries: Buy above 922 for targets of 925, 929, 935 SL 915
Reliance Industries: Sell below 912 for targets of 909, 905, 894 SL 919
Siemens: Buy above 865 for targets of 870, 880 SL 854
Lichsgfin: Buy above 181 for targets of 183, 187 SL 177

SCORE SHEET
Sail: Buy above 159 for targets of 160.5, 162 SL 157.5: Target 161.95 achieved
RelInfra: Buy above 727 for targets of 730, 735 SL 721: Call not activated

POSITIONAL TRADE
Ashokley: Buy above 59.5 for target of 64 SL 56.5 (One Week)
LITL: Buy above 50 for target of 53 SL 48.2 (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