Market outlook for 08/02/11

Nifty closed up 0.25 points (0.00%) at 5396.00 while Nifty February Future closed at 5394.05 discount of 1.95 points
Bank Nifty closed down 49.80 points (0.48%) at 10384.05 while February Future closed at 10375.65 discount of 8.40 points.

• FII sold in Cash (Net sell 65.47 Crore)
• FII bought in index future, index option, and stock future (Net buy 522.94 Crore)
• DII sold in Cash (Net sell 12.40 Crore)
• US market is trading flat to positive.
• Global cues are positive.
• SGX nifty is flat as of now.
• Most Active Nifty Feb Call Option: 5400 and 5500.
• Most Active Nifty Feb Put Options: 5400 and 5300.
• Advance Decline for the day was 460:931

NIFTY TECHNICAL

Current Spot: 5396.00
Pivot: 5404
5DEMA: 5445
10DEMA: 5509
20DEMA: 5618
50DEMA: 5799
RSI (15 days): 31.15
Parabolic SAR: 5556
Supports: 5369 - 5341
Resistance: 5432 - 5468

Nifty Future VWAP: 5406.30
MP Values Futures: VAH - 5424, POC - 5408, VAL - 5392

TARGET NIFTY
Buy Nifty Future above 5415 - 5435 - 5468 - 5514 SL - 5401
Sell Nifty Future below 5380 - 5373 - 5353 - 5319 SL - 5400

BANKNIFTY TECHNICAL

Current Spot: 10384.05
Pivot: 10416
5DEMA: 10495
10DEMA: 10582
20DEMA: 10745
50DEMA: 11230
RSI (15 days): 38.05
Parabolic SAR: 11157
Supports: 10323 - 10261
Resistance: 10478 - 10571

Bank Nifty Future VWAP: 10424.99
MP Values Bank Nifty Futures: VAH - 10486, POC - 10442, VAL - 10398

TARGET BANKNIFTY
Buy BankNifty Future above 10407 - 10423 - 10470 - 10549 SL - 10375
Sell BankNifty Future below 10344 - 10328 - 10280 - 10202 SL - 10374

INTRADAY TRADE
Reliance Industries: Buy above 933 for targets of 935, 942, 953 SL 929
Reliance Industries: Sell below 924 for targets of 922, 915, 904 SL 928
Hinddorrol: Buy above 100 for targets of 102, 107.5 SL 94.4
Havells: Buy above 339 for targets of 341, 345 SL 334

SCORE SHEET
Divislab: Buy above 660 for targets of 665, 675 SL 650: Target 673.85 achieved
Welcorp: Buy above 160 for targets of 162, 165 SL 157: Target 170.35 achieved

POSITIONAL TRADE
Dabur: Buy above 93 for target of 99 SL 89.9 (One Week)
Glenmark: Buy above 299 for target of 311 SL 295 (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