Market outlook for 05/08/11

Nifty closed down 73.00 points (1.35%) at 5331.80 while Nifty Future closed at 5337.20, premium of 5.40 points.
Bank Nifty closed down 102.50 points (0.96%) at 10537.05 while Future closed at 10551.95, premium of 26.85 points.

• FII sold in Cash (Net sell 254.55 Crore)
• FII sold in huge in index future, stock future and index option (Net sell 1391.83 Crore)
• DII bought in Cash (Net buy 316.50 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: 5400 and 5500.
• Most Active Nifty Put Options: 5400 and 5300.
• Advance Decline for the day was 469:952.

NIFTY TECHNICAL

Current Spot: 5331.80
Pivot: 5363
5DEMA: 5424
10DEMA: 5477
20DEMA: 5516
50DEMA: 5525
RSI (15 days): 35.63
Parabolic SAR: 5633
Supports: 5292 - 5252 - 5180
Resistance: 5403 - 5475 - 5515
NF VIX Range: 5282 - 5393

Nifty Future VWAP: 5383.38
MP Values Nifty Future: VAH - 5439, POC - 5403, VAL - 5364

TARGET NIFTY
Buy Nifty Future above 5371 - 5407 - 5473 - 5522 SL - 5359
Sell Nifty Future below 5329 - 5298 - 5255 - 5183 SL - 5370

BANKNIFTY TECHNICAL

Current Spot: 10537.05
Pivot: 10606
5DEMA: 10720
10DEMA: 10857
20DEMA: 10964
50DEMA: 10968
RSI (15 days): 36.35
Parabolic SAR: 11253
Supports: 10446 - 10355 - 10195
Resistance: 10697 - 10857 - 10948
Bank Nifty VIX Range: 10419 - 10685

Bank Nifty Future VWAP: 10655.46
MP Values Bank Nifty Future: VAH - 10697, POC - 10582, VAL - 10528

TARGET BANKNIFTY
Buy BankNifty Future above 10630 - 10713 - 10880 - 10977 SL - 10617
Sell BankNifty Future below 10536 - 10460 - 10364 - 10197 SL - 10627

INTRADAY TRADE
Reliance Industries: Buy above 822 for targets of 824, 827, 832 SL 816
Reliance Industries: Sell below 808 for targets of 806, 803, 798 SL 820
Bpcl: Buy above 691 for targets of 697, 707 SL 683
Polyplex: Buy above 192 for targets of 195, 200 SL 188

SCORE SHEET
UFlex: Buy above 214 for targets of 216, 220 SL 209: Target 218.40 achieved
Abirlanuvo: Buy above 984 for targets of 997, 1015 SL 964: Target 994.00 achieved

POSITIONAL TRADE
Gitanjali: Buy above 314 for target of 327 SL 310 (2-3 Days)
NitinFire: Buy above 130 for target of 142 SL 124 (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