Market outlook for 04/08/11

Nifty closed down 51.75 points (0.95%) at 5404.80 while Nifty Future closed at 5424.40, premium of 19.60 points.
Bank Nifty closed down 103.75 points (0.97%) at 10639.55 while Future closed at 10686.40, premium of 46.85 points.

• FII sold in Cash (Net sell 869.69 Crore)
• FII sold in huge in index future, stock future but bought in index option (Net sell 1382.92 Crore)
• DII bought in Cash (Net buy 422.48 Crore)
• US futures are trading flat to 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: 5400 and 5300.
• Advance Decline for the day was 505:916.

NIFTY TECHNICAL

Current Spot: 5404.80
Pivot: 5402
5DEMA: 5470
10DEMA: 5509
20DEMA: 5535
50DEMA: 5535
RSI (15 days): 39.60
Parabolic SAR: 5659
Supports: 5382 - 5358 - 5338
Resistance: 5425 - 5446 - 5469
NF VIX Range: 5368 - 5481

Nifty Future VWAP: 5411.67
MP Values Nifty Spot: VAH - 5418, POC - 5405, VAL - 5392

TARGET NIFTY
Buy Nifty Future above 5428 - 5442 - 5463 - 5493 SL - 5409
Sell Nifty Future below 5408 - 5394 - 5368 - 5348 SL - 5421

BANKNIFTY TECHNICAL

Current Spot: 10639.55
Pivot: 10624
5DEMA: 10811
10DEMA: 10928
20DEMA: 11009
50DEMA: 10985
RSI (15 days): 38.62
Parabolic SAR: 11317
Supports: 10561 - 10482 - 10420
Resistance: 10702 - 10765 - 10844
Bank Nifty VIX Range: 10551 - 10821

Bank Nifty Future VWAP: 10632.27
MP Values Bank Nifty Spot: VAH - 10659, POC - 10617, VAL - 10575

TARGET BANKNIFTY
Buy BankNifty Future above 10694 - 10747 - 10813 - 10902 SL - 10658
Sell BankNifty Future below 10648 - 10603 - 10514 - 10448 SL - 10669

INTRADAY TRADE
Reliance Industries: Buy above 832 for targets of 834, 837, 842 SL 826
Reliance Industries: Sell below 822 for targets of 820, 817, 812 SL 830
UFlex: Buy above 214 for targets of 216, 220 SL 209
Abirlanuvo: Buy above 984 for targets of 997, 1015 SL 964

SCORE SHEET
Castrol: Buy above 567 for targets of 572, 579 SL 558: Call not activated
IGL: Buy above 425 for targets of 428, 435 SL 418: Target 427.85 achieved

POSITIONAL TRADE
Gati: Buy above 71 for target of 74 SL 69.3 (2-3 Days)
Ifbagro: Buy above 144 for target of 157 SL 140 (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