Market outlook for 30/06/11

Nifty closed up 55.15 points (0.99%) at 5600.45 while Nifty Future closed at 560.10, premium of 3.65 points.
Bank Nifty closed up 99.30 points (0.90%) at 11153.35 while Future closed at 11164.00, premium of 10.65 points.

• FII bought in Cash (Net buy 669.35 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 3343.18 Crore)
• DII sold in Cash (Net sell 240.59 Crore)
• US futures are trading positive.
• Global cues are flat to positive.
• SGX nifty is flat as of now.
• Most Active Nifty May Call Option: 5600 and 5700.
• Most Active Nifty May Put Options: 5600 and 5500.
• Advance Decline for the day was 941:470.

NIFTY TECHNICAL

Current Spot: 5600.45
Pivot: 5592
5DEMA: 5509
10DEMA: 5464
20DEMA: 5460
50DEMA: 5522
RSI (15 days): 60.05
Parabolic SAR: 5241
Supports: 5575 - 5550 - 5533
Resistance: 5617 - 5634 - 5659
DeMark’s: 5583 - 5626

Nifty Future VWAP: 5594.41
MP Values Futures: VAH - 5602, POC - 5592, VAL - 5582

TARGET NIFTY
Buy Nifty Future above 5608 - 5621 - 5640 - 5670 SL - 5591
Sell Nifty Future below 5585 - 5577 - 5548 - 5528 SL - 5528

BANKNIFTY TECHNICAL

Current Spot: 11153.35
Pivot: 11138
5DEMA: 10960
10DEMA: 10839
20DEMA: 10789
50DEMA: 10925
RSI (15 days): 62.23
Parabolic SAR: 10432
Supports: 11106 - 11058 - 11026
Resistance: 11186 - 11218 - 11265
DeMark’s: 11122 - 11202

Bank Nifty Future VWAP: 11136.14
MP Values Bank Nifty Futures: VAH - 11157, POC - 11135, VAL - 11113

TARGET BANKNIFTY
Buy BankNifty Future above 11172 - 11192 - 11226 - 11270 SL - 11143
Sell BankNifty Future below 11132 - 11120 - 11071 - 11037 SL - 11154

INTRADAY TRADE
Reliance Industries: Buy above 887 for targets of 889, 895, 905 SL 880
Reliance Industries: Sell below 877 for targets of 875, 869, 862 SL 884
BataIndia: Buy above 590 for targets of 596, 606 SL 578
Renuka: Buy above 66.5 for targets of 68, 70 SL 64.5

SCORE SHEET
Hindalco: Buy above 182 for targets of 183, 186 SL 178: Target 184.40 achieved
Jublfood: Buy above 860 for targets of 872, 890 SL 847: Target 912.70 achieved

POSITIONAL TRADE
Jublfood: Buy above 905 for target of 945 SL 798 (2-3 Days)
Hanung: Buy above 144 for target of 158 SL 137 (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