Sunday, August 7, 2011

Market outlook for 08/08/11

Nifty closed down 120.55 points (2.26%) at 5211.25 while Nifty Future closed at 5211.35, premium of 0.10 points.
Bank Nifty closed down 182.55 points (1.73%) at 10354.50 while Future closed at 10347.65, discount of 6.85 points.
  • FII sold huge in Cash (Net sell 1788.96 Crore)
  • FII bought huge in index future, stock future and index option (Net buy 1378.76 Crore)
  • DII bought in Cash (Net buy 1372.49 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: 5200 and 5300.
  • Most Active Nifty Put Options: 5200 and 5100.
  • Advance Decline for the day was 168:1297.
NIFTY TECHNICAL
Current Spot: 5211.25
Pivot: 5186
5DEMA: 5353
10DEMA: 5428
20DEMA: 5487
50DEMA: 5514
RSI (15 days): 30.08
Parabolic SAR: 5581
Supports: 5142 - 5073 - 5029
Resistance: 5255 - 5299 - 5368
NF VIX Range: 5149 - 5274
Nifty Future VWAP: 5187.41
MP Values Nifty Future: VAH - 5223, POC - 5197, VAL - 5171

TARGET NIFTY
Buy Nifty Future above 5215 - 5256 - 5303 - 5375 SL - 5184
Sell Nifty Future below 5179 - 5142 - 5070 - 5023 SL - 5195

BANKNIFTY TECHNICAL
Current Spot: 10354.50
Pivot: 10299
5DEMA: 10598
10DEMA: 10766
20DEMA: 10906
50DEMA: 10961
RSI (15 days): 32.35
Parabolic SAR: 11143
Supports: 10206 - 1057 - 9964
Resistance: 10448 - 10541 - 10690
Bank Nifty VIX Range: 10211 - 10484
Bank Nifty Future VWAP: 10275.77
MP Values Bank Nifty Future: VAH - 10333, POC - 10280, VAL - 10227

TARGET BANKNIFTY
Buy BankNifty Future above 10355 - 10428 - 10513 - 10652 SL - 10289
Sell BankNifty Future below 10278 - 10214 - 10075 - 9990 SL - 10299

INTRADAY TRADE
Reliance Industries: Buy above 794 for targets of 796, 799, 807 SL 788
Reliance Industries: Sell below 786 for targets of 784, 781, 773 SL 792
JswSteel: Buy above 705 for targets of 712, 727 SL 687
HindPetro: Buy above 405 for targets of 410, 420 SL 399

SCORE SHEET
Bpcl: Buy above 691 for targets of 697, 707 SL 683: Target 709.00 achieved
Polyplex: Buy above 192 for targets of 195, 200 SL 188: Call not activated

POSITIONAL TRADE
DishTV: Buy above 86 for target of 92 SL 83 (2-3 Days)
IDFC: Buy above 122 for target of 132 SL 119 (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