Market outlook for 02/01/12

Nifty closed down 21.95 points (0.47%) at 4624.30 while Nifty Future closed at 4634.40, premium of 10.10 points.
Bank Nifty closed down 58.75 points (0.73%) at 7968.65 while Future closed at 7944.30, discount of 24.35 points.

• FII sold in Cash (Net sell 178.15 Crore)
• FII bought in index option but sold in index future, stock future (Net buy 42.59 Crore)
• DII bought in Cash (Net buy 266.60 Crore)
• US market ended in small negative.
• Global cues are flat to negative.
• SGX nifty is flat as of now.
• Most Active Nifty Call Option: 4700 and 4800.
• Most Active Nifty Put Options: 4600 and 4500.
• Advance Decline for the day was 691:730.

NIFTY TECHNICAL

Current Spot: 4624.30
Pivot: 4641
5DEMA: 4673
10DEMA: 4699
20DEMA: 4751
50DEMA: 4848
RSI (14 days): 39.40
Parabolic SAR: 4547
Supports: 4592 - 4560 - 4510
Resistance: 4674 - 4723 - 4755
CAM Support: 4617 - 4609 - 4602 - 4579
CAM Resistance: 4632 - 4639 - 4647 - 4669
NF VIX Range: 4564 - 4705

Nifty Future VWAP: 4662.43
MP Values Nifty Future: VAH - 4708, POC - 4691, VAL - 4637

TARGET NIFTY
Buy Nifty Future above 4656 - 4689 - 4740 - 4780 SL - 4645
Sell Nifty Future below 4627 - 4598 - 4560 - 4510 SL - 4655

BANKNIFTY TECHNICAL

Current Spot: 7968.65
Pivot: 8005
5DEMA: 8096
10DEMA: 8190
20DEMA: 8365
50DEMA: 8717
RSI (14 days): 36.42
Parabolic SAR: 8231
Supports: 7889 - 7810 - 7694
Resistance: 8084 - 8200 - 8279
CAM Support: 7951 - 7933 - 7915 - 7861
CAM Resistance: 7987 - 8004 - 8022 - 8076
Bank Nifty VIX Range: 7775 - 8113

Bank Nifty Future VWAP: 8021.87
MP Values Bank Nifty Future: VAH - 8129, POC - 8085, VAL - 7966

TARGET BANKNIFTY
Buy BankNifty Future above 8000 - 8070 - 8175 - 8280 SL - 7963
Sell BankNifty Future below 7932 - 7861 - 7775 - 7645 SL - 7997

INTRADAY TRADE
Reliance Industries: Buy above 704 for targets of 708, 714, 726 SL 699
Reliance Industries: Sell below 689 for targets of 685, 679, 667 SL 703
Recltd: Buy above 154.5 for targets of 156, 159 SL 152.5
Unionbank: Buy above 171 for targets of 173, 176 SL 168

SCORE SHEET
Sobha: Buy above 198 for targets of 201, 208 SL 193: Target 202.25 achieved
Jswsteel: Buy above 527 for targets of 532, 440 SL 521: Target 532.80 achieved

POSITIONAL TRADE
Hindcopper: Buy above 188 for target of 205 SL 178 (2-3 Days)
Hanung: Buy above 100 for target of 110 SL 98 (1 Week)

Thanks and Regards

S&P Wealth Creators