Market outlook for 04/07/11

Nifty closed down 20.20 points (0.36%) at 5627.20 while Nifty Future closed at 5638.40, premium of 11.20 points.
Bank Nifty closed up 10.35 points (0.09%) at 11255.00 while Future closed at 11301.00, premium of 40.50 points.

• FII bought in Cash (Net buy 599.66 Crore)
• FII bought in index option but sold in index future, stock future (Net buy 459.58 Crore)
• DII sold in Cash (Net sell 455.31 Crore)
• US futures are trading positive.
• Global cues are flat to positive.
• SGX nifty is positive as of now.
• Most Active Nifty Call Option: 5700 and 5800.
• Most Active Nifty Put Options: 5600 and 5500.
• Advance Decline for the day was 851:559.

NIFTY TECHNICAL

Current Spot: 5627.20
Pivot: 5648
5DEMA: 5579
10DEMA: 5521
20DEMA: 5492
50DEMA: 5545
RSI (15 days): 60.42
Parabolic SAR: 5317
Supports: 5589 - 5552 - 5493
Resistance: 5685 - 5744 - 5781
DeMark’s: 5570 - 5667

Nifty Future VWAP: 5648.54
MP Values Futures: VAH - 5672, POC - 5633, VAL - 5617

TARGET NIFTY
Buy Nifty Future above 5656 - 5685 - 5735 - 5770 SL - 5639
Sell Nifty Future below 5630 - 5605 - 5570 - 5520 SL - 5655

BANKNIFTY TECHNICAL

Current Spot: 11255.00
Pivot: 11268
5DEMA: 11121
10DEMA: 10975
20DEMA: 10873
50DEMA: 10967
RSI (15 days): 64.63
Parabolic SAR: 10586
Supports: 11177 - 11098 - 11007
Resistance: 11347 - 11438 - 11517
DeMark’s: 11137 - 11307

Bank Nifty Future VWAP: 11271.34
MP Values Bank Nifty Futures: VAH - 11318, POC - 11281, VAL - 11244

TARGET BANKNIFTY
Buy BankNifty Future above 11304 - 11352 - 11414 - 11485 SL - 11279
Sell BankNifty Future below 11268 - 11228 - 11156 - 11095 SL - 11291

INTRADAY TRADE
Reliance Industries: Buy above 880 for targets of 884, 890, 900 SL 873
Reliance Industries: Sell below 858 for targets of 854, 848, 838 SL 877
Hindalco: Buy above 188.7 for targets of 189, 191 SL 185
Cairn: Buy above 328 for targets of 331, 336 SL 321

SCORE SHEET
Lovable: Buy above 421 for targets of 425, 435 SL 415: Target 426 achieved
JpPower: Buy above 48.2 for targets of 49, 50.5 SL 47.1: Target 48.80 achieved

POSITIONAL TRADE
Relmedia: Buy above 131 for target of 142 SL 128 (One Week)
Hdil: Buy above 165 for target of 172 SL 163 (2-3 Days)

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