Thursday, March 3, 2011

Market outlook for 04/03/11

Nifty closed up 13.90 points (0.25%) at 5536.20 while Nifty March Future closed at 5544.70 premium of 8.50 points
Bank Nifty closed up 29.10 points (0.27%) at 10914.50 while March Future closed at 10947.30 premium of 32.80 points.
  • FII bought in Cash (Net buy 229.02 Crore)
  • FII bought in index future, index option but sold in stock future (Net buy 1165.95 Crore)
  • DII bought in Cash (Net buy 95.52 Crore)
  • US market is trading in Green.
  • Global cues are flat to positive.
  • SGX nifty is positive as of now.
  • Most Active Nifty March Call Option: 5500 and 5600.
  • Most Active Nifty March Put Options: 5500 and 5400.
  • Advance Decline for the day was 634:736
NIFTY TECHNICAL
Current Spot: 5536.20
Pivot: 5525
5DEMA: 5453
10DEMA: 5435
20DEMA: 5458
50DEMA: 5598
RSI (15 days): 51.86
Parabolic SAR: 5233
Supports: 5479 - 5423
Resistance: 5582 - 5628
Nifty Future VWAP: 5532.31
MP Values Futures: VAH - 5552, POC - 5514, VAL - 5478

TARGET NIFTY
Buy Nifty Future above 5549 - 5600 - 5658 - 5720 SL - 5532
Sell Nifty Future below 5532 - 5485 - 5422 - 5364 SL - 5543

BANKNIFTY TECHNICAL
Current Spot: 10914.50
Pivot: 10914
5DEMA: 10731
10DEMA: 10700
20DEMA: 10698
50DEMA: 10924
RSI (15 days): 52.92
Parabolic SAR: 11213
Supports: 10761 - 10607
Resistance: 11067 - 11220
Bank Nifty Future VWAP: 10928.35
MP Values Bank Nifty Futures: VAH - 11052, POC - 10952, VAL - 10852

TARGET BANKNIFTY
Buy BankNifty Future above 10958 - 11112 - 11282 - 11449 SL - 10935
Sell BankNifty Future below 10931 - 10785 - 10618 - 10448 SL - 10955

INTRADAY TRADE
Reliance Industries: Buy above 980 for targets of 983, 991, 1000 SL 974
Reliance Industries: Sell below 972 for targets of 970, 962, 954 SL 979
Sobha: Buy above 282 for targets of 286, 292 SL 275
Exideind: Buy above 141 for targets of 142.5, 145 SL 138.5

SCORE SHEET
YesBank: Buy above 274 for targets of 277, 283 SL 268: Target 277.9 achieved
HDIL: Buy above 168 for targets of 170, 174 SL 164: Target 169.4 achieved

POSITIONAL TRADE
TataMotors: Buy above 1180 for target of 1220 SL 1155 (One Week)
Camlin: Buy above 53 for target of 58 SL 51 (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

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