Market outlook for 02/09/11

Nifty closed up 81.40 points (1.65%) at 5001.00 while Nifty Future closed at 5003.00, premium of 2.00 points.
Bank Nifty closed up 190.95 points (2.04%) at 9533.40 while Future closed at 9521.65, discount of 11.75 points.

• FII bought in Cash (Net buy 620.90 Crore)
• FII bought in index future, stock future and index option (Net buy 2677.39 Crore)
• DII bought in Cash (Net buy 101.91 Crore)
• US futures are trading flat.
• Global cues are flat to positive.
• SGX nifty is positive as of now.
• Most Active Nifty Call Option: 5000 and 5100.
• Most Active Nifty Put Options: 4900 and 4800.
• Advance Decline for the day was 1066:380.

NIFTY TECHNICAL

Current Spot: 5001.00
Pivot: 4982
5DEMA: 4915
10DEMA: 4942
20DEMA: 5054
50DEMA: 5261
RSI (15 days): 42.66
Parabolic SAR: 4726
Supports: 4947 - 4893 - 4858
Resistance: 5036 - 5070 - 5124
NF VIX Range: 4924 - 5082

Nifty Future VWAP: 4977.45
MP Values Nifty Future: VAH - 5006, POC - 4981, VAL - 4956

TARGET NIFTY
Buy Nifty Future above 5007 - 5039 - 5075 - 5135 SL - 4980
Sell Nifty Future below 4975 - 4948 - 4890 - 4450 SL - 4987

BANKNIFTY TECHNICAL

Current Spot: 9533.40
Pivot: 9485
5DEMA: 9368
10DEMA: 9499
20DEMA: 9833
50DEMA: 10353
RSI (15 days): 37.93
Parabolic SAR: 8918
Supports: 9404 - 9274 - 9194
Resistance: 9614 - 9695 - 9824
Bank Nifty VIX Range: 9347 - 9697

Bank Nifty Future VWAP: 9459.18
MP Values Bank Nifty Future: VAH - 9518, POC - 9470, VAL - 9422

TARGET BANKNIFTY
Buy BankNifty Future above 9530 - 9600 - 9680 - 9810 SL - 9468
Sell BankNifty Future below 9458 - 9395 - 9265 - 9180 SL - 9485

INTRADAY TRADE
Reliance Industries: Buy above 785 for targets of 788, 793, 801 SL 779
Reliance Industries: Sell below 777 for targets of 774, 769, 761 SL 783
Heromotoco: Buy above 2060 for targets of 2080, 2110 SL 2029
DLF: Buy above 198 for targets of 200, 204 SL 194

SCORE SHEET
Relcapital: Buy above 380 for targets of 384, 392 SL 371: Target 396.50 achieved
TataSteel: Buy above 450 for targets of 455, 463 SL 440: Target 472.90 achieved

POSITIONAL TRADE
GtOffshore: Buy above 150 for target of 162 SL 145 (2-3 Days)
Sreinfra: Buy above 42.2 for target of 46 SL 41.5 (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