Market outlook for 10/02/11

Nifty closed down 59.00 points (1.11%) at 5253.55 while Nifty February Future closed at 5360.95 premium of 7.40 points
Bank Nifty closed down 31.10 points (0.31%) at 10116.65 while February Future closed at 10130.95 premium of 14.30 points.

• FII sold in Cash (Net sell 609.00 Crore)
• FII bought in index future, index option and stock future (Net buy 1930.47 Crore)
• DII bought in Cash (Net buy 115.00 Crore)
• US market is trading flat.
• Global cues are flat.
• SGX nifty is negative as of now.
• Most Active Nifty Feb Call Option: 5300 and 5400.
• Most Active Nifty Feb Put Options: 5300 and 5200.
• Advance Decline for the day was 134:1277

NIFTY TECHNICAL

Current Spot: 5253.55
Pivot: 5273
5DEMA: 5352
10DEMA: 5434
20DEMA: 5557
50DEMA: 5762
RSI (15 days): 26.22
Parabolic SAR: 5450
Supports: 5206 - 5159
Resistance: 5320 - 5387

Nifty Future VWAP: 5294.82
MP Values Futures: VAH - 5328, POC - 5290, VAL - 5252

TARGET NIFTY
Buy Nifty Future above 5283 - 5327 - 5396 - 5447 SL - 5276
Sell Nifty Future below 5253 - 5213 - 5162 - 5093 SL - 5282

BANKNIFTY TECHNICAL

Current Spot: 10116.65
Pivot: 10150
5DEMA: 10292
10DEMA: 10433
20DEMA: 10634
50DEMA: 11147
RSI (15 days): 33.92
Parabolic SAR: 11010
Supports: 10005 - 9893
Resistance: 10262 - 10407

Bank Nifty Future VWAP: 10182.46
MP Values Bank Nifty Futures: VAH - 10280, POC - 10202, VAL - 10124

TARGET BANKNIFTY
Buy BankNifty Future above 10172 - 10286 - 10447 - 10574 SL - 10149
Sell BankNifty Future below 10116 - 10009 - 9882 - 9721 SL - 10170

INTRADAY TRADE
Reliance Industries: Buy above 923 for targets of 927, 933, 942 SL 916
Reliance Industries: Sell below 911 for targets of 907, 902, 894 SL 921
HDFC: Buy above 611 for targets of 616, 625 SL 601
Kiridyes: Buy above 341 for targets of 345, 351 SL 336

SCORE SHEET
Abgship: Buy above 348 for targets of 352, 357 SL 345: Call not activated
NMDC: Buy above 274 for targets of 276, 279 SL 272: Call not activated

POSITIONAL TRADE
DishTV: Buy above 57 for target of 60 SL 55.9 (One Week)
Aqua: Buy above 23.3 for target of 25 SL 22.4 (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