Market outlook for 08/07/11

Nifty closed up 103.50 points (1.84%) at 5728.95 while Nifty Future closed at 5744.60, premium of 15.65 points.
Bank Nifty closed up 143.05 points (1.27%) at 11426.10 while Future closed at 11470.45, premium of 44.35 points.

• FII bought in Cash (Net buy 868.71 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 1811.39 Crore)
• DII sold in Cash (Net sell 161.03 Crore)
• US futures are trading in Green.
• Global cues are flat to positive.
• SGX nifty is flat as of now.
• Most Active Nifty Call Option: 5700 and 5800.
• Most Active Nifty Put Options: 5700 and 5600.
• Advance Decline for the day was 995:414.

NIFTY TECHNICAL

Current Spot: 5728.95
Pivot: 5700
5DEMA: 5654
10DEMA: 5601
20DEMA: 5548
50DEMA: 5560
RSI (15 days): 65.75
Parabolic SAR: 5477
Supports: 5662 - 5595 - 5558
Resistance: 5766 - 5804 - 5871
DeMark’s: 5681 - 5785

Nifty Future VWAP: 5703.21
MP Values Futures: VAH - 5738, POC - 5704, VAL - 5670

TARGET NIFTY
Buy Nifty Future above 5749 - 5781 - 5820 - 5892 SL - 5710
Sell Nifty Future below 5704 - 5676 - 5605 - 5565 SL - 5719

BANKNIFTY TECHNICAL

Current Spot: 11426.10
Pivot: 11368
5DEMA: 11327
10DEMA: 11195
20DEMA: 11038
50DEMA: 11024
RSI (15 days): 65.94
Parabolic SAR: 10980
Supports: 11290 - 11154 - 11076
Resistance: 11504 - 11583 - 11719
DeMark’s: 11329 - 11544

Bank Nifty Future VWAP: 11393.23
MP Values Bank Nifty Futures: VAH - 11445, POC - 11375, VAL - 11305

TARGET BANKNIFTY
Buy BankNifty Future above 11479 - 11548 - 11631 - 11773 SL - 11406
Sell BankNifty Future below 11395 - 11334 - 11193 - 11109 SL - 11419

INTRADAY TRADE
Reliance Industries: Buy above 873 for targets of 876, 881, 894 SL 865
Reliance Industries: Sell below 863 for targets of 860, 855, 842 SL 869
Enil: Buy above 280 for targets of 283, 289 SL 276
Marico: Buy above 162 for targets of 164, 167 SL 157.5

SCORE SHEET
Sasken: Buy above 151 for targets of 154, 159 SL 147: Target 153.50 achieved
Provogue: Buy above 37.5 for targets of 38, 39 SL 36.90: Target 38.60 achieved

POSITIONAL TRADE
Ivrclinfra: Buy above 74 for target of 80 SL 72 (One Week)
Pfocus: Buy above 68 for target of 74 SL 66 (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