Market outlook for 02/02/11

Nifty closed down 88.70 points (1.61%) at 5417.20 while Nifty February Future closed at 5429.15 premium of 11.95 points
Bank Nifty closed down 160.65 points (1.51%) at 10481.20 while February Future closed at 10493.45 premium of 12.25 points.

• FII sold in Cash (Net sell 1036.80 Crore)
• FII bought in index future, index option, stock future (Net buy 1735.16 Crore)
• DII bought in Cash (Net buy 630.40 Crore)
• US market is trading positive.
• Global cues are positive.
• SGX nifty is positive 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 349:1032

NIFTY TECHNICAL

Current Spot: 5417.20
Pivot: 5453
5DEMA: 5527
10DEMA: 5606
20DEMA: 5708
50DEMA: 5849
RSI (15 days): 27.47
Parabolic SAR: 5674
Supports: 5366 - 5316
Resistance: 5504 - 5590

Nifty Future VWAP: 5456.40
MP Values Futures: VAH - 5488, POC - 5458, VAL - 5428

TARGET NIFTY
Buy Nifty Future above 5465 - 5508 - 5589 - 5638 SL - 5449
Sell Nifty Future below 5421 - 5382 - 5333 - 5251 SL - 5463

BANKNIFTY TECHNICAL

Current Spot: 10481.20
Pivot: 10541
5DEMA: 10630
10DEMA: 10713
20DEMA: 10873
50DEMA: 11328
RSI (15 days): 38.54
Parabolic SAR: 11240
Supports: 10398 - 10315
Resistance: 10624 - 10766

Bank Nifty Future VWAP: 10558.85
MP Values Bank Nifty Futures: VAH - 10610, POC - 10552, VAL - 10494

TARGET BANKNIFTY
Buy BankNifty Future above 10569 - 10647 - 10806 - 10897 SL - 10556
Sell BankNifty Future below 10478 - 10408 - 10316 - 10158 SL - 10566

INTRADAY TRADE
Reliance Industries: Buy above 908 for targets of 911, 917, 925 SL 902
Reliance Industries: Sell below 898 for targets of 895, 889, 882 SL 906
Tatacoffee: Buy above 695 for targets of 701, 712 SL 688
IndHotel: Buy above 92 for targets of 93.5, 96 SL 90.5

SCORE SHEET
Siemens: Buy above 865 for targets of 870, 880 SL 854: Call not activated
Lichsgfin: Buy above 181 for targets of 183, 187 SL 177: Target 183.45 achieved

POSITIONAL TRADE
Jindalphot: Buy above 178 for target of 191 SL 174 (One Week)
Ruchinfra: Buy above 22.5 for target of 25 SL 21.5 (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