Market outlook for 08/11/11

Nifty closed up 18.45 points (0.35%) at 5284.20 while Nifty Future closed at 5316.85, premium of 32.65 points.
Bank Nifty closed up 53.85 points (0.55%) at 9836.35 while Future closed at 9881.60, premium of 45.25 points.

• FII bought in Cash (Net buy 128.62 Crore)
• FII sold in index option but bought in index future, stock future (Net sell 4.98 Crore)
• DII bought in Cash (Net buy 70.49 Crore)
• US futures closed flat to negative.
• Global cues are flat to negative.
• SGX nifty is negative as of now.
• Most Active Nifty Call Option: 5300 and 5400.
• Most Active Nifty Put Options: 5300 and 5200.
• Advance Decline for the day was 862:577.

NIFTY TECHNICAL

Current Spot: 5284.20
Pivot: 5289
5DEMA: 5268
10DEMA: 5231
20DEMA: 5164
50DEMA: 5098
RSI (14 days): 60.18
Parabolic SAR: 5396
Supports: 5252 - 5220 - 5182
Resistance: 5322 -5359 - 5391
CAM Support: 5278 - 5271 - 5265 - 5246
CAM Resistance: 5291 - 5297 - 5303 - 5323
NF VIX Range: 5240 - 5394

Nifty Future VWAP: 5323.17
MP Values Nifty Future: VAH - 5332, POC - 5308, VAL - 5284

TARGET NIFTY
Buy Nifty Future above 5322 - 5350 - 5385 - 5420 SL - 5310
Sell Nifty Future below 5309 - 5285 - 5250 - 5215 SL - 5321

BANKNIFTY TECHNICAL

Current Spot: 9836.35
Pivot: 9853
5DEMA: 9807
10DEMA: 9761
20DEMA: 9678
50DEMA: 9676
RSI (14 days): 55.25
Parabolic SAR: 10071
Supports: 9792 - 9747 - 9686
Resistance: 9898 - 9959 - 10004
CAM Support: 9827 - 9817 - 9807 - 9778
CAM Resistance: 9846 - 9856 - 9866 - 9895
Bank Nifty VIX Range: 9706 - 10057

Bank Nifty Future VWAP: 9900.14
MP Values Bank Nifty Future: VAH - 9922, POC - 9895, VAL - 9868

TARGET BANKNIFTY
Buy BankNifty Future above 9900 - 9935 - 9990 - 10040 SL - 9870
Sell BankNifty Future below 9865 - 9840 - 9790 - 9740 SL - 9897

INTRADAY TRADE
Reliance Industries: Buy above 890 for targets of 894, 900, 912 SL 884
Reliance Industries: Sell below 876 for targets of 872, 866, 854 SL 888
Patni: Buy above 355 for targets of 359, 365 SL 348
Bharatforg: Buy above 297 for targets of 301, 306 SL 291

SCORE SHEET
Bhel: Buy above 331 for targets of 334, 340 SL 325: Target 338.90 achieved
PFC: Buy above 166 for targets of 168, 172 SL 163: Target 171.00 achieved

POSITIONAL TRADE
Tulip: Buy above 150 for target of 156 SL 147 (2-3 Days)
Orbitcorp: Buy above 35 for target of 38 SL 34.10 (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