Market outlook for 07/03/11

Nifty closed up 2.55 points (0.05%) at 5538.75 while Nifty March Future closed at 5535.95 discount of 2.80 points
Bank Nifty closed up 48.90 points (0.45%) at 10963.40 while March Future closed at 10967.15 premium of 3.75 points.

• FII bought in Cash (Net buy 585.52 Crore, Good amount of buy)
• FII bought in index option, stock future but sold in index future (Net buy 836.77 Crore)
• DII sold in Cash (Net sell 229.78 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: 5600 and 5700.
• Most Active Nifty March Put Options: 5500 and 5400.
• Advance Decline for the day was 644:744

NIFTY TECHNICAL

Current Spot: 5538.75
Pivot: 5557
5DEMA: 5481
10DEMA: 5454
20DEMA: 5466
50DEMA: 5596
RSI (15 days): 51.99
Parabolic SAR: 5240
Supports: 5506 - 5473
Resistance: 5590 - 5641

Nifty Future VWAP: 5560.12
MP Values Futures: VAH - 5572, POC - 5548, VAL - 5524

TARGET NIFTY
Buy Nifty Future above 5559 - 5590 - 5646 - 5684 SL - 5542
Sell Nifty Future below 5528 - 5501 - 5464 - 5407 SL - 5558

BANKNIFTY TECHNICAL

Current Spot: 10963.40
Pivot: 11007
5DEMA: 10809
10DEMA: 10748
20DEMA: 10723
50DEMA: 10919
RSI (15 days): 54.00
Parabolic SAR: 11192
Supports: 10880 - 10797
Resistance: 11090 - 11217

Bank Nifty Future VWAP: 11025.82
MP Values Bank Nifty Futures: VAH - 11102, POC - 11038, VAL - 10974

TARGET BANKNIFTY
Buy BankNifty Future above 11022 - 11103 - 11244 - 11339 SL - 10998
Sell BankNifty Future below 10951 - 10878 - 10783 - 10642 SL - 11019

INTRADAY TRADE
Reliance Industries: Buy above 990 for targets of 992, 997, 1005 SL 983
Reliance Industries: Sell below 977 for targets of 975, 971, 962 SL 987
ABB: Buy above 730 for targets of 738, 758 SL 719
Adhunik: Buy above 101.5 for targets of 103, 106 SL 98.7

SCORE SHEET
Sobha: Buy above 282 for targets of 286, 292 SL 275: Target 289.5 achieved
Exideind: Buy above 141 for targets of 142.5, 145 SL 138.5: Target 145.45 achieved

POSITIONAL TRADE
Amar: Buy above 171 for target of 182 SL 167 (One Week)
Dabur: Buy above 103 for target of 109 SL 100 (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