Market outlook for 06/09/11

Nifty closed down 22.80 points (0.45%) at 5017.20 while Nifty Future closed at 5010.30, discount of 6.90 points.
Bank Nifty closed up 32.70 points (0.34%) at 9614.05 while Future closed at 9596.75, discount of 17.30 points.

• FII bought in Cash (Net buy 133.22 Crore)
• FII sold in index future, index option but bought in stock future (Net sell 352.61 Crore)
• DII bought in Cash (Net buy 147.23 Crore)
• US futures are trading flat to negative.
• Global cues are flat to Negative.
• SGX nifty is flat 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 731:697.

NIFTY TECHNICAL

Current Spot: 5017.20
Pivot: 5004
5DEMA: 4977
10DEMA: 4970
20DEMA: 5049
50DEMA: 5238
RSI (15 days): 43.87
Parabolic SAR: 4764
Supports: 4978 - 4938 - 4912
Resistance: 5044 - 5070 - 5109
NF VIX Range: 4933 - 5087

Nifty Future VWAP: 4987.04
MP Values Nifty Future: VAH - 5000, POC - 4976, VAL - 4955

TARGET NIFTY
Buy Nifty Future above 5014 - 5035 - 5062 - 5105 SL - 4992
Sell Nifty Future below 4988 - 4965 - 4930 - 4900 SL - 5002

BANKNIFTY TECHNICAL

Current Spot: 9614.05
Pivot: 9564
5DEMA: 9498
10DEMA: 9532
20DEMA: 9790
50DEMA: 10282
RSI (15 days): 40.27
Parabolic SAR: 8965
Supports: 9499 - 9383 - 9317
Resistance: 9680 - 9746 - 9861
Bank Nifty VIX Range: 9425 - 9768

Bank Nifty Future VWAP: 9521.72
MP Values Bank Nifty Future: VAH - 9567, POC - 9483, VAL - 9427

TARGET BANKNIFTY
Buy BankNifty Future above 9605 - 9670 - 9750 - 9870 SL - 9545
Sell BankNifty Future below 9535 - 9475 - 9355 - 9275 SL - 9565

INTRADAY TRADE
Reliance Industries: Buy above 794 for targets of 797, 802, 810 SL 788
Reliance Industries: Sell below 785 for targets of 782, 777, 769 SL 792
Nitinfire: Buy above 141 for targets of 144, 149 SL 136
Lovable: Buy above 607 for targets of 618, 632 SL 593

SCORE SHEET
Gmdcltd: Buy above 187.5 for targets of 189, 192 SL 184.5: Target 194.00 achieved
Hdil: Buy above 106.5 for targets of 108, 110 SL 104: Target 108.50 achieved

POSITIONAL TRADE
Relcapital: Buy above 432 for target of 455 SL 419 (2-3 Days)
NCC: Buy above 62 for target of 66 SL 59 (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