Market outlook for 11/04/11

Nifty closed down 43.70 points (0.74%) at 5842.00 while Nifty April Future closed at 5854.90 premium of 12.90 points.
Bank Nifty closed down 81.15 points (0.69%) at 11673.25 while April Future closed at 11711.60 premium of 38.35 points.

• FII bought in Cash (Net buy 384.85 Crore)
• FII sold in index future, stock future but bought in stock option (Net sell 116.28 Crore)
• DII sold in Cash (Net sell 128.40 Crore)
• US market ended negative.
• Global cues are flat to negative.
• SGX nifty is flat to negative as of now.
• Most Active Nifty April Call Option: 5900 and 6000.
• Most Active Nifty April Put Options: 5900 and 5800.
• Advance Decline for the day was 328:1087.

NIFTY TECHNICAL

Current Spot: 5842.00
Pivot: 5864
5DEMA: 5860
10DEMA: 5808
20DEMA: 5711
50DEMA: 5622
RSI (15 days): 63.43
Parabolic SAR: 5718
Supports: 5800 - 5759
Resistance: 5905 - 5969
DeMark’s: 5780 - 5884

Nifty Future VWAP: 5868.15
MP Values Futures: VAH - 5880, POC - 5856, VAL - 5832

TARGET NIFTY
Buy Nifty Future above 5876 - 5907 - 5954 - 6000 SL - 5866
Sell Nifty Future below 5846 - 5818 - 5779 - 5730 SL - 5874

BANKNIFTY TECHNICAL

Current Spot: 11673.25
Pivot: 11720
5DEMA: 11707
10DEMA: 11613
20DEMA: 11401
50DEMA: 11084
RSI (15 days): 61.94
Parabolic SAR: 11294
Supports: 11586 - 11499
Resistance: 11807 - 11941
DeMark’s: 11543 - 11763

Bank Nifty Future VWAP: 11752.66
MP Values Bank Nifty Futures: VAH - 11798, POC - 11716, VAL - 11666

TARGET BANKNIFTY
Buy BankNifty Future above 11764 - 11840 - 11965 - 12040 SL - 11749
Sell BankNifty Future below 11694 - 11630 - 10545 - 11430 SL – 11761

INTRADAY TRADE
Reliance Industries: Buy above 1037 for targets of 1040, 1048, 1060 SL 1029
Reliance Industries: Sell below 1019 for targets of 1017, 1010, 1000 SL 1034
Bhusanstl: Buy above 481 for targets of 485, 492 SL 473
IndiaBulls: Buy above 166 for targets of 167, 169 SL 164

SCORE SHEET
YesBank: Buy above 332 for targets of 335, 340 SL 326: SL Hit
Bhartiship: Buy above 181 for targets of 184, 189 SL 176: Target 185.70 achieved

POSITIONAL TRADE
Zandurealt: Buy above 2810 for target of 3100 SL 2735 (One Week)
EssarOil: Buy above 141 for target of 149 SL 136 (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