Market outlook for 01/07/11

Nifty closed up 46.95 points (0.84%) at 5647.40 while Nifty Future closed at 5655.40, premium of 8.00 points.
Bank Nifty closed up 91.30 points (0.82%) at 11244.65 while Future closed at 11261.65, premium of 17.00 points.

• FII bought in Cash (Net buy 1591.34 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 1680.75 Crore)
• DII sold in Cash (Net sell 773.38 Crore)
• US futures are trading positive.
• Global cues are flat to positive.
• SGX nifty is flat as of now.
• Most Active Nifty Call Option: 5600 and 5700.
• Most Active Nifty Put Options: 5600 and 5500.
• Advance Decline for the day was 775:641.

NIFTY TECHNICAL

Current Spot: 5647.40
Pivot: 5637
5DEMA: 5555
10DEMA: 5498
20DEMA: 5477
50DEMA: 5531
RSI (15 days): 62.70
Parabolic SAR: 5274
Supports: 5616 - 5585 - 5565
Resistance: 5668 - 5689 - 5720
DeMark’s: 5627 - 5679

Nifty Future VWAP: 5642.45
MP Values Futures: VAH - 5654, POC - 5641, VAL - 5628

TARGET NIFTY
Buy Nifty Future above 5656 - 5669 - 5690 - 5720 SL - 5639
Sell Nifty Future below 5633 - 5625 - 5594 - 5574 SL - 5649

BANKNIFTY TECHNICAL

Current Spot: 11244.65
Pivot: 11222
5DEMA: 11055
10DEMA: 10912
20DEMA: 10833
50DEMA: 10951
RSI (15 days): 64.37
Parabolic SAR: 10500
Supports: 11172 - 11100 - 11050
Resistance: 11294 - 11344 - 11416
DeMark’s: 11197 - 11319

Bank Nifty Future VWAP: 11245.69
MP Values Bank Nifty Futures: VAH - 11266, POC - 11237, VAL - 11208

TARGET BANKNIFTY
Buy BankNifty Future above 11257 - 11289 - 11335 - 11409 SL - 11214
Sell BankNifty Future below 11204 - 11180 - 11106 - 11060 SL - 11229

INTRADAY TRADE
Reliance Industries: Buy above 901 for targets of 903, 908, 916 SL 894
Reliance Industries: Sell below 891 for targets of 889, 884, 876 SL 898
Lovable: Buy above 421 for targets of 425, 435 SL 415
JpPower: Buy above 48.2 for targets of 49, 50.5 SL 47.1

SCORE SHEET
BataIndia: Buy above 590 for targets of 596, 606 SL 578: Target 619.00 achieved
Renuka: Buy above 66.5 for targets of 68, 70 SL 64.5: Target 67.35 achieved

POSITIONAL TRADE
Orbitcorp: Buy above 42 for target of 46 SL 41 (2-3 Days)
TTML: Buy above 19.4 for target of 21 SL 18.8 (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