Market outlook for 05/10/11

Nifty closed down 77.35 points (1.60%) at 4772.15 while Nifty Future closed at 4775.00, premium of 2.85 points.
Bank Nifty closed down 272.55 points (2.97%) at 8913.35 while Future closed at 8893.95, discount of 19.40 points.

• FII sold in Cash (Net sell 971.44 Crore)
• FII sold in index future, stock future but bought in index option (Net sell 525.37 Crore)
• DII bought in Cash (Net buy 555.81 Crore)
• US futures are trading flat.
• Global cues are flat to negative.
• SGX nifty is flat as of now.
• Most Active Nifty Call Option: 4900 and 5000.
• Most Active Nifty Put Options: 4700 and 4600.
• Advance Decline for the day was 431:995.

NIFTY TECHNICAL

Current Spot: 4772.15
Pivot: 4790
5DEMA: 4873
10DEMA: 4918
20DEMA: 4965
50DEMA: 5102
RSI (14 days): 37.72
Parabolic SAR: 5024
Supports: 4710 - 4649 - 4569
Resistance: 4852 - 4932 - 4993
NF VIX Range: 4694 - 4856

Nifty Future VWAP: 4805.88
MP Values Nifty Future: VAH - 4831, POC - 4771, VAL - 4726

TARGET NIFTY
Buy Nifty Future above 4799 - 4860 - 4950 - 5020 SL - 4779
Sell Nifty Future below 4768 - 4708 - 4640 - 4550 SL - 4797

BANKNIFTY TECHNICAL

Current Spot: 8913.35
Pivot: 8991
5DEMA: 9252
10DEMA: 9387
20DEMA: 9510
50DEMA: 9892
RSI (14 days): 34.74
Parabolic SAR: 9651
Supports: 8741 - 8568 - 8319
Resistance: 9163 - 9413 - 9585
Bank Nifty VIX Range: 8710 - 9078

Bank Nifty Future VWAP: 9049.85
MP Values Bank Nifty Future: VAH - 9139, POC - 8885, VAL - 8800

TARGET BANKNIFTY
Buy BankNifty Future above 8995 - 9170 - 9440 - 9640 SL - 8959
Sell BankNifty Future below 8881 - 8710 - 8560 - 8250 SL - 8992

INTRADAY TRADE
Reliance Industries: Buy above 780 for targets of 784, 790, 800 SL 774
Reliance Industries: Sell below 768 for targets of 764, 758, 748 SL 778
Lichsgfin: Buy above 217 for targets of 219, 222 SL 215
Petronet: Buy above 163 for targets of 165, 168 SL 161

SCORE SHEET
Lichsgfin: Buy above 215 for targets of 218, 222 SL 212: Target 220.00 achieved
HindPetro: Buy above 380 for targets of 383, 388 SL 374: Target 385.50 achieved

POSITIONAL TRADE
ICICIBank: Buy above 819 for target of 864 SL 810 (2-3 Days)
ExideInd: Buy above 133 for target of 144 SL 131 (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