Market outlook for 29/07/11

Nifty closed down 59.05 points (1.06%) at 5487.75 while Nifty Future closed at 5498.70, premium of 10.95 points.
Bank Nifty down 171.65 points (1.56%) at 10828.50 while Future closed at 10864.50, premium of 36.00 points.

• FII bought in Cash (Net buy 64.66 Crore)
• FII sold huge in index future, stock future but bought in index option (Net sell 604.08 Crore)
• DII bought in Cash (Net buy 409.34 Crore)
• US futures are trading positive.
• Global cues are flat to positive.
• SGX nifty is in flat as of now.
• Most Active Nifty Call Option: 5500 and 5600.
• Most Active Nifty Put Options: 5500 and 5400.
• Advance Decline for the day was 368:1072.

NIFTY TECHNICAL

Current Spot: 5487.75
Pivot: 5492
5DEMA: 5553
10DEMA: 5572
20DEMA: 5572
50DEMA: 5565
RSI (15 days): 43.99
Parabolic SAR: 5702
Supports: 5472 - 5455 - 5435
Resistance: 5508 - 5528 - 5544
NF VIX Range: 5439 - 5559

Nifty Future VWAP: 5502.15
MP Values Future: VAH - 5502, POC - 5493, VAL - 5484

TARGET NIFTY
Buy Nifty Future above 5506 - 5519 - 5543 - 5563 SL - 5495
Sell Nifty Future below 5490 - 5481 - 5461 - 5437 SL - 5504

BANKNIFTY TECHNICAL

Current Spot: 10828.50
Pivot: 10861
5DEMA: 11039
10DEMA: 11111
20DEMA: 11117
50DEMA: 11078
RSI (15 days): 41.94
Parabolic SAR: 11433
Supports: 10767 - 10706 - 10613
Resistance: 10922 - 11015 - 11076
Bank Nifty VIX Range: 10722 - 11007

Bank Nifty Future VWAP: 10904.25
MP Values Bank Nifty Future: VAH - 10917, POC - 10888, VAL - 10859

TARGET BANKNIFTY
Buy BankNifty Future above 10904 - 10943 - 11027 - 11079 SL - 10891
Sell BankNifty Future below 10848 - 10818 - 10766 - 10682 SL - 10902

INTRADAY TRADE
Reliance Industries: Buy above 846 for targets of 848, 852, 859 SL 840
Reliance Industries: Sell below 833 for targets of 831, 827, 820 SL 844
SunTv: Buy above 342 for targets of 348, 358 SL 333
Panasonic: Buy above 170 for targets of 173, 180 SL 167

SCORE SHEET
Hercules: Buy above 355 for targets of 361, 373 SL 342: Target 371.80 achieved
Gitanjali: Buy above 323 for targets of 326, 330 SL 318: Target 326.50 achieved

POSITIONAL TRADE
Hsil: Buy above 238 for target of 253 SL 231 (2-3 Days)
Hexaware: Buy above 88 for target of 97 SL 85 (1 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