Market outlook for 03/03/11

Nifty closed up 189.05 points (3.54%) at 5522.30 while Nifty March Future closed at 5543.85 premium of 21.55 points
Bank Nifty closed up 450.05 points (4.31%) at 10885.40 while March Future closed at 10916.90 premium of 31.50 points.

• FII bought in Cash (Net buy 418.51 Crore, after many days)
• FII bought in index option, index future and stock future (Net buy 3290.12 Crore)
• DII bought in Cash (Net buy 95.64 Crore)
• US market ended in Red.
• Global cues are flat to negative.
• SGX nifty is negative as of now.
• Most Active Nifty March Call Option: 5500 and 5600.
• Most Active Nifty March Put Options: 5400 and 5300.
• Advance Decline for the day was 1182:215

NIFTY TECHNICAL

Current Spot: 5522.30
Pivot: 5476
5DEMA: 5411
10DEMA: 5413
20DEMA: 5450
50DEMA: 5598
RSI (15 days): 51.23
Parabolic SAR: 5564
Supports: 5420 - 5317
Resistance: 5579 - 5636

Nifty Future VWAP: 5476.09
MP Values Futures: VAH - 5554, POC - 5500, VAL - 5444

TARGET NIFTY
Buy Nifty Future above 5548 - 5605 - 5669 - 5785 SL - 5489
Sell Nifty Future below 5483 - 5430 - 5314 - 5250 SL - 5499

BANKNIFTY TECHNICAL

Current Spot: 10885.40
Pivot: 10773
5DEMA: 10640
10DEMA: 10652
20DEMA: 10675
50DEMA: 10922
RSI (15 days): 52.53
Parabolic SAR: 11234
Supports: 10640 - 10396
Resistance: 11018 - 11151

Bank Nifty Future VWAP: 10763.59
MP Values Bank Nifty Futures: VAH - 10852, POC - 10722, VAL - 10592

TARGET BANKNIFTY
Buy BankNifty Future above 10925 - 11060 - 11210 - 11482 SL - 10788
Sell BankNifty Future below 10777 - 10649 - 10376 - 10227 SL - 10809

INTRADAY TRADE
Reliance Industries: Buy above 991 for targets of 994, 1000, 1009 SL 980
Reliance Industries: Sell below 978 for targets of 975, 969, 960 SL 985
YesBank: Buy above 274 for targets of 277, 283 SL 268
HDIL: Buy above 168 for targets of 170, 174 SL 164

SCORE SHEET
Torntpower: Buy above 231 for targets of 233, 235 SL 229: Target 236.0 achieved
Ster: Buy above 165 for targets of 167, 170 SL 163: Target 172.5 achieved

POSITIONAL TRADE
Ashokley: Buy above 52.65 for target of 56 SL 50.9 (One Week)
Gammonind: Buy above 127 for target of 136 SL 123 (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