Market outlook for 07/07/11

Nifty closed down 6.65 points (0.12%) at 5625.45 while Nifty Future closed at 5636.65, premium of 11.20 points.
Bank Nifty closed down 123.05 points (1.08%) at 11283.05 while Future closed at 11317.80, premium of 34.75 points.

• FII bought in Cash (Net buy 220.45 Crore)
• FII sold in stock future but bought in index future, index option (Net sell 177.84 Crore)
• DII sold in Cash (Net sell 80.23 Crore)
• US futures are trading flat to Negative.
• Global cues are flat to Negative.
• 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 713:695.

NIFTY TECHNICAL

Current Spot: 5625.45
Pivot: 5630
5DEMA: 5617
10DEMA: 5572
20DEMA: 5529
50DEMA: 5554
RSI (15 days): 59.26
Parabolic SAR: 5441
Supports: 5604 - 5585 - 5559
Resistance: 5648 - 5674 - 5693
DeMark’s: 5594 - 5639

Nifty Future VWAP: 5640.05
MP Values Futures: VAH - 5650, POC - 5639, VAL - 5628

TARGET NIFTY
Buy Nifty Future above 5645 - 5661 - 5688 - 5711 SL - 5635
Sell Nifty Future below 5628 - 5616 - 5593 - 5566 SL - 5643

BANKNIFTY TECHNICAL

Current Spot: 11283.05
Pivot: 11311
5DEMA: 11277
10DEMA: 11144
20DEMA: 10998
50DEMA: 11005
RSI (15 days): 62.33
Parabolic SAR: 10891
Supports: 11216 - 11161 - 11067
Resistance: 11366 - 11460 - 11516
DeMark’s: 11189 - 11338

Bank Nifty Future VWAP: 11352.07
MP Values Bank Nifty Futures: VAH - 11398, POC - 11349, VAL - 11300

TARGET BANKNIFTY
Buy BankNifty Future above 11356 - 11409 - 11505 - 11575 SL - 11339
Sell BankNifty Future below 11301 - 11257 - 11190 - 11094 SL - 11353

INTRADAY TRADE
Reliance Industries: Buy above 855 for targets of 858, 866, 879 SL 849
Reliance Industries: Sell below 846 for targets of 844, 839, 831 SL 853
Sasken: Buy above 151 for targets of 154, 159 SL 147
Provogue: Buy above 37.5 for targets of 38, 39 SL 36.90

SCORE SHEET
Moil: Buy above 359 for targets of 364, 371 SL 351: Call not activated
Bfutiltie: Buy above 773 for targets of 780, 795 SL 760: Target 786.65 achieved

POSITIONAL TRADE
Zyduswell: Buy above 720 for target of 785 SL 704 (One Week)
Nesco: Buy above 656 for target of 732 SL 627 (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