Market outlook for 09/03/11

Nifty closed up 57.65 points (1.06%) at 5520.80 while Nifty March Future closed at 5536.25 premium of 15.45 points
Bank Nifty closed up 149.30 points (1.38%) at 10931.55 while March Future closed at 10984.50 premium of 52.95 points.

• FII bought in Cash (Net buy 237.07 Crore)
• FII sold in index option, stock future but bought in index future (Net sell 127.34 Crore)
• DII sold in Cash (Net sell 140.46 Crore)
• US market is trading flat to positive.
• Global cues are flat to positive.
• SGX nifty is flat 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 918:454

NIFTY TECHNICAL

Current Spot: 5520.80
Pivot: 5505
5DEMA: 5490
10DEMA: 5468
20DEMA: 5471
50DEMA: 5588
RSI (15 days): 51.24
Parabolic SAR: 5269
Supports: 5480 - 5440
Resistance: 5546 - 5571

Nifty Future VWAP: 5521.42
MP Values Futures: VAH - 5540, POC - 5524, VAL - 5508

TARGET NIFTY
Buy Nifty Future above 5540 - 5565 - 5596 - 5629 SL - 5514
Sell Nifty Future below 5509 - 5489 - 5438 - 5407 SL - 5520

BANKNIFTY TECHNICAL

Current Spot: 10931.55
Pivot: 10891
5DEMA: 10844
10DEMA: 10786
20DEMA: 10748
50DEMA: 10914
RSI (15 days): 53.56
Parabolic SAR: 11151
Supports: 10820 - 10708
Resistance: 11003 - 11075

Bank Nifty Future VWAP: 10940.72
MP Values Bank Nifty Futures: VAH - 10970, POC - 10916, VAL - 10862

TARGET BANKNIFTY
Buy BankNifty Future above 10993 - 11070 - 11160 - 11290 SL - 10928
Sell BankNifty Future below 10917 - 10848 - 10707 - 10616 SL - 10939

INTRADAY TRADE
Reliance Industries: Buy above 986 for targets of 989, 993, 999 SL 978
Reliance Industries: Sell below 977 for targets of 974, 970, 963 SL 985
Satyamcomp: Buy above 65 for targets of 66, 68 SL 64
Jindalpoly: Buy above 434 for targets of 439, 448 SL 427

SCORE SHEET
Aban: Buy above 609 for targets of 615, 624 SL 598: Target 624 achieved
Jublfood: Buy above 556 for targets of 563, 576 SL 542: Target 577.30 achieved

POSITIONAL TRADE
Tatacoffee: Buy above 672 for target of 748 SL 638 (One Week)
TCIFinance: Buy above 90 for target of 100 SL 87 (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