Market outlook for 07/01/11

Nifty closed down 31.55 points (0.52%) at 6048.25 while Nifty January Future closed at 6072.25 premium of 24.00 points
Bank Nifty closed down 118.65 points (1.05%) at 11186.80 while January Future closed at 11255.05 premium of 68.25 points.

• FII sold in Cash (Net sell 385.63 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 165.06 Crore)
• DII sold in Cash (Net sell 338.05 Crore)
• US market is trading negative.
• Global cues are flat to negative.
• SGX nifty is negative as of now.
• Most Active Nifty January Call Option: 6100 and 6200.
• Most Active Nifty December Put Options: 6100 and 6000.
• Advance Decline for the day was 337:1044

NIFTY TECHNICAL

Current Spot: 6048.25
Pivot: 6062
5DEMA: 6086
10DEMA: 6069
20DEMA: 6034
50DEMA: 6031
RSI (7 days): 48.25
Parabolic SAR: 6006
Supports: 6009 - 5969
Resistance: 6102 - 6155

Nifty Future VWAP: 6080.08
Bank Nifty Future VWAP: 11299.42
MP Values Spot (Price Profile): VAH - 6064, POC - 6042, VAL - 6024
MP Values Futures: VAH - 6094, POC - 6076, VAL - 6058
MP Values Bank Nifty Futures: VAH - 11350, POC - 11306, VAL - 11262

TARGET NIFTY
Buy Nifty Future above 6089 - 6119 - 6168 - 6205 SL - 6080
Sell Nifty Future below 6064 - 6037 - 6003 - 5956 SL - 6088
Buy BankNifty Future above 11314 - 11383 - 11503- 11598 SL - 11299
Sell BankNifty Future below 11239 - 11202 - 11161 - 11101 SL - 11311

INTRADAY TRADE
Reliance Industries: Buy above 1088 for targets of 1090, 1096, 1105 SL 1081
Reliance Industries: Sell below 1078 for targets of 1076, 1070, 1062 SL 1087
Ktkbank: Buy above 165 for targets of 167, 170 SL 162
Kpit: Buy above 150.5 for targets of 152, 154 SL 148.5

SCORE SHEET
Mundraport: Buy above 159 for targets of 161, 164 SL 155: SL Hit
Navinfluor: Buy above 318 for targets of 322, 327 SL 310: Target 322.00 achieved

POSITIONAL TRADE
Petronet: Buy above 125 for target of 132 SL 123 (One Week)
BankIndia: Buy above 445 for target of 459 SL 437 (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