Market outlook for 08/03/11

Nifty closed down 75.60 points (1.36%) at 5463.15 while Nifty March Future closed at 5475.60 premium of 12.45 points
Bank Nifty closed down 181.15 points (1.65%) at 10782.25 while March Future closed at 10808.50 premium of 26.25 points.

• FII sold in Cash (Net sell 92.24 Crore)
• FII sold in index future, stock future but bought in index option (Net sell 1264.32 Crore)
• DII bought in Cash (Net buy 45.57 Crore)
• US market is trading flat to negative.
• 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 306:1093

NIFTY TECHNICAL

Current Spot: 5463.15
Pivot: 5454
5DEMA: 5475
10DEMA: 5456
20DEMA: 5465
50DEMA: 5589
RSI (15 days): 47.85
Parabolic SAR: 5255
Supports: 5417 - 5371
Resistance: 5500 - 5537

Nifty Future VWAP: 5452.77
MP Values Futures: VAH - 5492, POC - 5466, VAL - 5440

TARGET NIFTY
Buy Nifty Future above 5480 - 5514 - 5556 - 5614 SL - 5456
Sell Nifty Future below 5450 - 5420 - 5362 - 5320 SL - 5465

BANKNIFTY TECHNICAL

Current Spot: 10782.25
Pivot: 10776
5DEMA: 10800
10DEMA: 10754
20DEMA: 10729
50DEMA: 10913
RSI (15 days): 50.50
Parabolic SAR: 11171
Supports: 10665 - 10548
Resistance: 10893 - 11003

Bank Nifty Future VWAP: 10760.19
MP Values Bank Nifty Futures: VAH - 10860, POC - 10792, VAL - 10724

TARGET BANKNIFTY
Buy BankNifty Future above 10817 - 10910 - 11015 - 11150 SL - 10777
Sell BankNifty Future below 10766 - 10680 - 10550 - 10440 SL - 10788

INTRADAY TRADE
Reliance Industries: Buy above 979 for targets of 982, 987, 995 SL 972
Reliance Industries: Sell below 970 for targets of 968, 964, 958 SL 977
Aban: Buy above 609 for targets of 615, 624 SL 598
Jubfood: Buy above 556 for targets of 563, 576 SL 542

SCORE SHEET
ABB: Buy above 730 for targets of 738, 758 SL 719: Call no activated
Adhunik: Buy above 101.5 for targets of 103, 106 SL 98.7: Target 102.80 achieved

POSITIONAL TRADE
IFCI: Buy above 52 for target of 56 SL 50.7 (One Week)
RPower: Buy above 123 for target of 128 SL 121 (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