Market outlook for 08/09/11

Nifty closed up 60.35 points (1.19%) at 5124.65 while Nifty Future closed at 5117.20, discount of 7.45 points.
Bank Nifty closed up 201.30 points (2.08%) at 9858.90 while Future closed at 9834.35, discount of 24.55 points.

• FII bought in Cash (Net buy 262.43 Crore)
• FII bought in index option, stock future and index future (Net buy 848.88 Crore)
• DII sold in Cash (Net sell 80.81 Crore)
• US futures are trading in GREEN.
• Global cues are flat to Positive.
• SGX nifty is positive as of now.
• Most Active Nifty Call Option: 5100 and 5200.
• Most Active Nifty Put Options: 5100 and 5000.
• Advance Decline for the day was 1099:345.

NIFTY TECHNICAL

Current Spot: 5124.65
Pivot: 5118
5DEMA: 5046
10DEMA: 5012
20DEMA: 5057
50DEMA: 5229
RSI (15 days): 50.12
Parabolic SAR: 4807
Supports: 5082 - 5040 - 5004
Resistance: 5161 - 5197 - 5239
NF VIX Range: 5042 - 5192

Nifty Future VWAP: 5112.34
MP Values Nifty Future: VAH - 5134, POC - 5114, VAL - 5094

TARGET NIFTY
Buy Nifty Future above 5121 - 5149 - 5183 - 5220 SL - 5109
Sell Nifty Future below 5107 - 5083 - 5047 - 5012 SL - 5119

BANKNIFTY TECHNICAL

Current Spot: 9858.90
Pivot: 9817
5DEMA: 9554
10DEMA: 9610
20DEMA: 9785
50DEMA: 10243
RSI (15 days): 47.21
Parabolic SAR: 9031
Supports: 9726 - 9594 - 9503
Resistance: 9949 - 10039 - 10172
Bank Nifty VIX Range: 9666 - 10002

Bank Nifty Future VWAP: 9817.79
MP Values Bank Nifty Future: VAH - 9855, POC - 9795, VAL - 9735

TARGET BANKNIFTY
Buy BankNifty Future above 9842 - 9914 - 9998 - 10100 SL - 9805
Sell BankNifty Future below 9795 - 9731 - 9620 - 9540 SL - 9815

INTRADAY TRADE
Reliance Industries: Buy above 838 for targets of 841, 846, 856 SL 831
Reliance Industries: Sell below 829 for targets of 826, 821, 811 SL 836
Hindalco: Buy above 161 for targets of 163, 167 SL 159
Jetairways: Buy above 308 for targets of 311, 317 SL 301

SCORE SHEET
TataCoffee: Buy above 870 for targets of 885, 910 SL 845: Target 919.90 achieved
Gsfc: Buy above 432 for targets of 436, 445 SL 421: Target 437.70 achieved

POSITIONAL TRADE
Varun: Buy above 274 for target of 293 SL 267 (2-3 Days)
Ambujacem: Buy above 148 for target of 158 SL 144 (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