Market outlook for 09/02/11

Nifty closed down 83.45 points (1.55%) at 5312.55 while Nifty February Future closed at 5314.45 premium of 1.90 points
Bank Nifty closed down 236.30 points (2.28%) at 10147.75 while February Future closed at 10150.10 premium of 2.35 points.

• FII sold in Cash (Net sell 726.54 Crore)
• FII sold in index future, index option, but bought in stock future (Net sell 499.19 Crore)
• DII bought in Cash (Net buy 448.97 Crore)
• US market is trading flat.
• Global cues are flat.
• SGX nifty is negative 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 168:1228

NIFTY TECHNICAL

Current Spot: 5312.55
Pivot: 5349
5DEMA: 5401
10DEMA: 5474
20DEMA: 5589
50DEMA: 5780
RSI (15 days): 28.19
Parabolic SAR: 5506
Supports: 5267 - 5220
Resistance: 5395 - 5478

Nifty Future VWAP: 5353.63
MP Values Futures: VAH - 5392, POC - 5356, VAL - 5320

TARGET NIFTY
Buy Nifty Future above 5350 - 5385 - 5461 - 5504 SL - 5339
Sell Nifty Future below 5306 - 5274 - 5252 - 5157 SL - 5349

BANKNIFTY TECHNICAL

Current Spot: 10147.75
Pivot: 10233
5DEMA: 10379
10DEMA: 10503
20DEMA: 10688
50DEMA: 11187
RSI (15 days): 34.40
Parabolic SAR: 11094
Supports: 10034 - 9921
Resistance: 10346 - 10544

Bank Nifty Future VWAP: 10259.26
MP Values Bank Nifty Futures: VAH - 10336, POC - 10250, VAL - 10164

TARGET BANKNIFTY
Buy BankNifty Future above 10243 - 10339 - 10534 - 10642 SL - 10221
Sell BankNifty Future below 10135 - 10047 - 9938 - 9744 SL - 10249

INTRADAY TRADE
Reliance Industries: Buy above 925 for targets of 928, 934, 942 SL 918
Reliance Industries: Sell below 911 for targets of 908, 903, 895 SL 923
Abgship: Buy above 348 for targets of 352, 357 SL 345
NMDC: Buy above 274 for targets of 276, 279 SL 272

SCORE SHEET
Hinddorrol: Buy above 100 for targets of 102, 107.5 SL 94.4: Call not activated
Havells: Buy above 339 for targets of 341, 345 SL 334: Call not activated

POSITIONAL TRADE
Fortis: Buy above 148 for target of 156 SL 145 (One Week)
Andhrabank: Buy above 141 for target of 149 SL 139 (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