Market outlook for 29/08/11

Nifty closed down 91.80 points (1.90%) at 4747.80 while Nifty Future closed at 4748.70, premium of 0.90 points.
Bank Nifty closed down 202.70 points (2.21%) at 8974.55 while Future closed at 8973.50, discount of 1.05 points.

• FII sold in Cash (Net sell 226.25 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 1766.62 Crore)
• DII bought in Cash (Net buy 392.90 Crore)
• US futures ended in Green.
• Global cues are flat to positive.
• SGX nifty is positive as of now.
• Most Active Nifty Call Option: 4900 and 5000.
• Most Active Nifty Put Options: 4800 and 4700.
• Advance Decline for the day was 198:1256.

NIFTY TECHNICAL

Current Spot: 4747.80
Pivot: 4780
5DEMA: 4849
10DEMA: 4931
20DEMA: 5074
50DEMA: 5271
RSI (15 days): 25.36
Parabolic SAR: 4916
Supports: 4688 - 4628 - 4536
Resistance: 4840 - 4932 - 4992
NF VIX Range: 4687 - 4811

Nifty Future VWAP: 4804.31
MP Values Nifty Future: VAH - 4863, POC - 4803, VAL - 4743

TARGET NIFTY
Buy Nifty Future above 4788 - 4848 - 4950 - 5015 SL - 4769
Sell Nifty Future below 4742 - 4685 - 4620 - 4530 SL - 4787

BANKNIFTY TECHNICAL

Current Spot: 8974.55
Pivot: 9037
5DEMA: 9257
10DEMA: 9525
20DEMA: 9919
50DEMA: 10385
RSI (15 days): 20.27
Parabolic SAR: 9433
Supports: 8856 - 8737 - 8556
Resistance: 9156 - 9336 - 9455
Bank Nifty VIX Range: 8831 - 9116

Bank Nifty Future VWAP: 9103.17
MP Values Bank Nifty Future: VAH - 9253, POC - 9156, VAL - 8992

TARGET BANKNIFTY
Buy BankNifty Future above 9052 - 9165 - 9380 - 9525 SL - 9031
Sell BankNifty Future below 8960 - 8840 - 8710 - 8550 SL - 9049

INTRADAY TRADE
Reliance Industries: Buy above 733 for targets of 736, 741, 749 SL 727
Reliance Industries: Sell below 716 for targets of 713, 708, 700 SL 731
UFlex: Buy above 179 for targets of 182, 186 SL 177
Gitanjali: Buy above 305 for targets of 307, 311 SL 301

SCORE SHEET
Erosmedia: Buy above 203 for targets of 206, 214 SL 199: Target 208.50 achieved
Lupin: Buy above 466 for targets of 470, 477 SL 460: Target 471.30 achieved

POSITIONAL TRADE
Relmedia: Buy above 89 for target of 96 SL 88 (2-3 Days)
AmtekIndia: Buy above 119 for target of 127 SL 117 (1 Week)

This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.

Thanks and Regards

S&P Wealth Creators