Market outlook for 03/10/11

Nifty closed down 72.20 points (1.44%) at 4943.25 while Nifty Future closed at 4934.30, discount of 8.95 points.
Bank Nifty closed down 185.10 points (1.92%) at 9468.30 while Future closed at 9422.60, discount of 45.70 points.

• FII sold in Cash (Net sell 459.47 Crore)
• FII bought in index option but sold in index future, stock future (Net buy 1327.84 Crore)
• DII bought in Cash (Net buy 517.34 Crore)
• US futures are trading negative.
• Global cues are flat to negative.
• SGX nifty is negative 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 485:927.

NIFTY TECHNICAL

Current Spot: 4943.25
Pivot: 4964
5DEMA: 4960
10DEMA: 4973
20DEMA: 4999
50DEMA: 5124
RSI (14 days): 45.22
Parabolic SAR: 5061
Supports: 4903 - 4863 - 4802
Resistance: 5004 - 5066 - 5106
NF VIX Range: 4850 - 5019

Nifty Future VWAP: 4968.09
MP Values Nifty Future: VAH - 5010, POC - 4975, VAL - 4940

TARGET NIFTY
Buy Nifty Future above 4966 - 5000 - 5070 - 5115 SL - 4945
Sell Nifty Future below 4927 - 4895 - 4855 - 4785 SL - 4964

BANKNIFTY TECHNICAL

Current Spot: 9468.30
Pivot: 9508
5DEMA: 9540
10DEMA: 9560
20DEMA: 9613
50DEMA: 9952
RSI (14 days): 44.56
Parabolic SAR: 9760
Supports: 9381 - 9293 - 9166
Resistance: 9596 - 9723 - 9811
Bank Nifty VIX Range: 9240 - 9605

Bank Nifty Future VWAP: 9508.21
MP Values Bank Nifty Future: VAH - 9585, POC - 9523, VAL - 9461

TARGET BANKNIFTY
Buy BankNifty Future above 9488 - 9570 - 9720 - 9815 SL - 9466
Sell BankNifty Future below 9408 - 9335 - 9240 - 9090 SL - 9486

INTRADAY TRADE
Reliance Industries: Buy above 810 for targets of 814, 820, 830 SL 805
Reliance Industries: Sell below 804 for targets of 800, 794, 784 SL 810
SesaGoa: Buy above 202 for targets of 205, 209 SL 197
Jisljaleqs: Buy above 154 for targets of 155.5, 158 SL 151.5

SCORE SHEET
LIChsgfin: Buy above 216 for targets of 219, 225 SL 210: Call not activated
JswSteel: Buy above 589 for targets of 596, 610 SL 575: Target 615.80 achieved

POSITIONAL TRADE
JPInfratec: Buy above 53.5 for target of 57.5 SL 51 (2-3 Days)
AmtekIndia: Buy above 141 for target of 150 SL 137 (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