Sunday, April 3, 2011

Market outlook for 04/04/11

Nifty closed down 7.70 points (0.13%) at 5826.05 while Nifty April Future closed at 5861.35 premium of 35.30 points.
Bank Nifty closed down 114.50 points (0.98%) at 11590.95 while April Future closed at 11677.10 premium of 86.15 points.

  • FII bought in Cash (Net buy 415.28 Crore)
  • FII bought in index option but sold in index future, stock future (Net buy 352.11 Crore)
  • DII sold in Cash (Net sell 412.63 Crore)
  • US market closed in Green.
  • Global cues are flat to positive.
  • SGX nifty is positive as of now.
  • Most Active Nifty April Call Option: 5900 and 6000.
  • Most Active Nifty April Put Options: 5800 and 5700.
  • Advance Decline for the day was 1131:278.

NIFTY TECHNICAL
Current Spot: 5826.05
Pivot: 5832
5DEMA: 5765
10DEMA: 5681
20DEMA: 5599
50DEMA: 5600
RSI (15 days): 65.67
Parabolic SAR: 5479
Supports: 5804 - 5782
Resistance: 5854 - 5882
Nifty Future VWAP: 5858.70
MP Values Futures: VAH - 5868, POC - 5858, VAL - 5848

TARGET NIFTY
Buy Nifty Future above 5866 - 5882 - 5906 - 5935 SL - 5855
Sell Nifty Future below 5852 - 5840 - 5822 - 5798 SL - 5864

BANKNIFTY TECHNICAL
Current Spot: 11590.95
Pivot: 11623
5DEMA: 11569
10DEMA: 11393
20DEMA: 11179
50DEMA: 11042
RSI (15 days): 62.13
Parabolic SAR: 10753
Supports: 11508 - 11426
Resistance: 11706 - 11821
Bank Nifty Future VWAP: 11662.10
MP Values Bank Nifty Futures: VAH - 11702, POC - 11660, VAL - 11618

TARGET BANKNIFTY
Buy BankNifty Future above 11702 - 11778 - 11885 - 11976 SL - 11679
Sell BankNifty Future below 11660 - 11592 - 10501 - 11398 SL – 11699

INTRADAY TRADE
Reliance Industries: Buy above 1050 for targets of 1053, 1062, 1077 SL 1042
Reliance Industries: Sell below 1031 for targets of 1029, 1022, 1012 SL 1047
Hindoilexp: Buy above 225 for targets of 229, 236 SL 216
RelMedia: Buy above 172 for targets of 175, 179 SL 166

SCORE SHEET
Hindunilvr: Buy above 289 for targets of 292, 297 SL 284: SL Hit
Gravita: Buy above 380 for targets of 385, 395 SL 370: Target 394.70 achieved

POSITIONAL TRADE
PunjLloyd: Buy above 68 for target of 72 SL 66 (One Week)
Subex: Buy above 58 for target of 62 SL 56 (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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