Market outlook for 28/01/11

Nifty closed down 83.10 points (1.46%) at 5604.30 while Nifty February Future closed at 5627.90 premium of 23.6 points
Bank Nifty closed down 196.80 points (1.81%) at 10676.15 while February Future closed at 10734.85 premium of 58.7 points.

• FII sold in Cash (Net sell 1651.41 Crore)
• FII bought in index option but sold in index future, stock future (Net buy 582.25 Crore)
• DII sold in Cash (Net sell 255.59 Crore)
• US market is trading flat to positive.
• Global cues are flat.
• SGX nifty is flat as of now.
• Most Active Nifty Feb Call Option: 5700 and 5800.
• Most Active Nifty Feb Put Options: 5600 and 5500.
• Advance Decline for the day was 343:1040

NIFTY TECHNICAL

Current Spot: 5604.30
Pivot: 5642
5DEMA: 5674
10DEMA: 5716
20DEMA: 5789
50DEMA: 5882
RSI (15 days): 35.10
Parabolic SAR: 5819
Supports: 5557 - 5511
Resistance: 5689 - 5773

Nifty Future VWAP: 5664.82
MP Values Futures: VAH - 5712, POC - 5680, VAL - 5648

TARGET NIFTY
Buy Nifty Future above 5643 - 5678 - 5754 - 5795 SL - 5631
Sell Nifty Future below 5596 - 5566 - 5524 - 5448 SL - 5642

BANKNIFTY TECHNICAL

Current Spot: 10676.15
Pivot: 10782
5DEMA: 10815
10DEMA: 10839
20DEMA: 10980
50DEMA: 11367
RSI (15 days): 41.62
Parabolic SAR: 10426
Supports: 10554 - 10431
Resistance: 10885 - 11093

Bank Nifty Future VWAP: 10872.42
MP Values Bank Nifty Futures: VAH - 10976, POC - 10890, VAL - 10804

TARGET BANKNIFTY
Buy BankNifty Future above 10799 - 10922 - 11171 - 11307 SL - 10781
Sell BankNifty Future below 10663 - 10548 - 10412 - 10263 SL - 10797

INTRADAY TRADE
Reliance Industries: Buy above 955 for targets of 958, 965, 975 SL 948
Reliance Industries: Sell below 938 for targets of 935, 930, 922 SL 952
Brfl: Buy above 245 for targets of 248, 252 SL 241
SesaGoa: Buy above 333 for targets of 335, 338 SL 330

SCORE SHEET
HindPetro: Buy above 381 for targets of 384, 388 SL 378: SL Hit
Sail: Buy above 164 for targets of 165.5, 168 SL 162: Call not activated

POSITIONAL TRADE
Tatacoffee: Buy above 752 for target of 785 SL 741 (One Week)
Gujnrecoke: Buy above 62.5 for target of 65 SL 61.4 (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