Thursday, March 10, 2011

Market outlook for 11/03/11

Nifty closed down 36.60 points (0.66%) at 5494.40 while Nifty March Future closed at 5504.65 premium of 10.25 points
Bank Nifty closed down 124.55 points (1.13%) at 10850.25 while March Future closed at 10878.90 premium of 28.65 points.

  • FII sold in Cash (Net sell 97.19 Crore)
  • FII sold in index future, stock future but bought in index option (Net sell 594.07 Crore)
  • DII bought in Cash (Net buy 108.98 Crore)
  • US market is trading 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: 5500 and 5400.
  • Advance Decline for the day was 548:815

NIFTY TECHNICAL
Current Spot: 5494.40
Pivot: 5493
5DEMA: 5501
10DEMA: 5482
20DEMA: 5478
50DEMA: 5572
RSI (15 days): 49.78
Parabolic SAR: 5296
Supports: 5470 - 5445
Resistance: 5518 - 5541
Nifty Future VWAP: 5491.61
MP Values Futures: VAH - 5502, POC - 5490, VAL - 5478

TARGET NIFTY
Buy Nifty Future above 5509 - 5522 - 5541 - 5571 SL - 5492
Sell Nifty Future below 5487 - 5478 - 5449 - 5429 SL - 5506

BANKNIFTY TECHNICAL
Current Spot: 10850.25
Pivot: 10851
5DEMA: 10875
10DEMA: 10826
20DEMA: 10777
50DEMA: 10914
RSI (15 days): 51.62
Parabolic SAR: 11112
Supports: 10782 - 10714
Resistance: 10920 - 10989
Bank Nifty Future VWAP: 10850.97
MP Values Bank Nifty Futures: VAH - 10880, POC - 100840, VAL - 10800

TARGET BANKNIFTY
Buy BankNifty Future above 10887 - 10967 - 11062 - 11160 SL - 10863
Sell BankNifty Future below 10858 - 10785 - 10686 - 10592 SL - 10879

INTRADAY TRADE
Reliance Industries: Buy above 992 for targets of 994, 997, 1001 SL 984
Reliance Industries: Sell below 983 for targets of 981, 978, 972 SL 990
KPIT: Buy above 170 for targets of 173, 178 SL 166
Relmedia: Buy above 156 for targets of 158, 161 SL 152

SCORE SHEET
Jaysreetea: Buy above 160 for targets of 163, 168 SL 156: Target 173.30 achieved
Deltacorp: Buy above 71 for targets of 72, 74 SL 69.8: Target 73.90 achieved

POSITIONAL TRADE
Relcapital: Buy above 531 for target of 560 SL 518 (One Week)
Mtnl: Buy above 45.5 for target of 48 SL 44 (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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