Market outlook for 02/08/11

Nifty closed up 34.80 points (0.63%) at 5516.80 while Nifty Future closed at 5532.95, premium of 16.15 points.
Bank Nifty closed up 45.35 points (0.42%) at 10939.00 while Future closed at 10967.80, premium of 28.80 points.

• FII bought in Cash (Net buy 86.83 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 128.00 Crore)
• DII sold in Cash (Net sell 95.26 Crore)
• US futures are trading negative.
• Global cues are flat to negative.
• SGX nifty is in flat to negative 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 559:872.

NIFTY TECHNICAL

Current Spot: 5516.80
Pivot: 5518
5DEMA: 5525
10DEMA: 5549
20DEMA: 5559
50DEMA: 5554
RSI (15 days): 46.63
Parabolic SAR: 5688
Supports: 5485 - 5453 - 5419
Resistance: 5550 - 5584 - 5616
NF VIX Range: 5475 - 5591

Nifty Future VWAP: 5525.89
MP Values Nifty Spot: VAH - 5535, POC - 5519, VAL - 5503

TARGET NIFTY
Buy Nifty Future above 5537 - 5561 - 5592 - 5630 SL - 5519
Sell Nifty Future below 5518 - 5498 - 5460 - 5429 SL - 5531

BANKNIFTY TECHNICAL

Current Spot: 10939.00
Pivot: 10962
5DEMA: 10974
10DEMA: 11048
20DEMA: 11080
50DEMA: 11035
RSI (15 days): 45.80
Parabolic SAR: 11393
Supports: 10859 - 10779 - 10676
Resistance: 11042 - 11145 - 11225
Bank Nifty VIX Range: 10827 - 11109

Bank Nifty Future VWAP: 10988.66
MP Values Bank Nifty Spot: VAH - 10994, POC - 10939, VAL - 10884

TARGET BANKNIFTY
Buy BankNifty Future above 10989 - 11056 - 11150 - 11231 SL - 10968
Sell BankNifty Future below 10951 - 10893 - 10812 - 10718 SL - 10987

INTRADAY TRADE
Reliance Industries: Buy above 833 for targets of 836, 841, 849 SL 828
Reliance Industries: Sell below 826 for targets of 823, 818, 810 SL 832
Jublfood: Buy above 895 for targets of 906, 920 SL 880
Godrejind: Buy above 221 for targets of 223, 226 SL 218

SCORE SHEET
Aptecht: Buy above 139 for targets of 143, 148 SL 136: Target 143.45 achieved
Neyvelilig: Buy above 100 for targets of 102, 105 SL 97: Target 101.75 achieved

POSITIONAL TRADE
Ranbaxy: Buy above 564 for target of 576 SL 555 (2-3 Days)
Gspl: Buy above 107 for target of 115 SL 104 (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