Market outlook for 06/07/11

Nifty closed down 18.40 points (0.33%) at 5632.10 while Nifty Future closed at 5651.10, premium of 19.00 points.
Bank Nifty closed up 26.30 points (0.23%) at 11406.10 while Future closed at 11452.05, premium of 45.95 points.

• FII bought in Cash (Net buy 825.52 Crore)
• FII sold in index future, stock future but bought in index option (Net sell 573.84 Crore)
• DII sold in Cash (Net sell 898.49 Crore)
• US futures are trading flat.
• Global cues are flat.
• SGX nifty is flat 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 695:725.

NIFTY TECHNICAL

Current Spot: 5632.10
Pivot: 5635
5DEMA: 5613
10DEMA: 5561
20DEMA: 5519
50DEMA: 5552
RSI (15 days): 59.94
Parabolic SAR: 5405
Supports: 5610 - 5587 - 5562
Resistance: 5657 - 5682 - 5705
DeMark’s: 5598 - 5646

Nifty Future VWAP: 5645.51
MP Values Futures: VAH - 5661, POC - 5650, VAL - 5639

TARGET NIFTY
Buy Nifty Future above 5655 - 5668 - 5689 - 5710 SL - 5644
Sell Nifty Future below 5641 - 5632 - 5611 - 5591 SL - 5653

BANKNIFTY TECHNICAL

Current Spot: 11406.10
Pivot: 11380
5DEMA: 11274
10DEMA: 11113
20DEMA: 10968
50DEMA: 10999
RSI (15 days): 68.30
Parabolic SAR: 10788
Supports: 11329 - 11251 - 11199
Resistance: 11458 - 11509 - 11587
DeMark’s: 11354 - 11483

Bank Nifty Future VWAP: 11401.37
MP Values Bank Nifty Futures: VAH - 11446, POC - 11393, VAL - 11340

TARGET BANKNIFTY
Buy BankNifty Future above 11461 - 11507 - 11568 - 11662 SL - 11413
Sell BankNifty Future below 11402 - 11364 - 11270 - 11205 SL - 11429

INTRADAY TRADE
Reliance Industries: Buy above 857 for targets of 860, 868, 881 SL 851
Reliance Industries: Sell below 842 for targets of 839, 831, 818 SL 855
Moil: Buy above 359 for targets of 364, 371 SL 351
Bfutiltie: Buy above 773 for targets of 780, 795 SL 760

SCORE SHEET
Aban: Buy above 540 for targets of 545, 558 SL 526: Call not activated
Vipind: Buy above 235 for targets of 238, 242 SL 230: Error in Call

POSITIONAL TRADE
Tatacomm: Buy above 222 for target of 239 SL 218 (One Week)
Gati: Buy above 69 for target of 75 SL 66.5 (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