Market outlook for 06/01/12

Nifty closed up 0.30 points (0.01%) at 4749.95 while Nifty Future closed at 4758.10, premium of 8.15 points.
Bank Nifty closed up 46.50 points (0.55%) at 8454.90 while Future closed at 8426.50, discount of 28.40 points.

• FII buy in Cash (Net buy 381.42 Crore)
• FII bought in index future, index option, and stock future (Net buy 515.27 Crore)
• DII sold in Cash (Net sold 289.21 Crore)
• US market is trading flat to negative.
• Global cues are flat to negative.
• SGX nifty is flat as of now.
• Most Active Nifty Call Option: 4800 and 4900.
• Most Active Nifty Put Options: 4700 and 4600.
• Advance Decline for the day was 783:648.

NIFTY TECHNICAL

Current Spot: 4749.95
Pivot: 4753
5DEMA: 4726
10DEMA: 4718
20DEMA: 4744
50DEMA: 4822
RSI (14 days): 49.05
Parabolic SAR: 4567
Supports: 4727 - 4704 - 4677
Resistance: 4776 - 4803 - 4826
CAM Support: 4745 - 4741 - 4736 - 4723
CAM Resistance: 4755 - 4759 - 4764 - 4777
NF VIX Range: 4687 - 4829

Nifty Future VWAP: 4768.30
MP Values Nifty Future: VAH - 4785, POC - 4771, VAL - 4757

TARGET NIFTY
Buy Nifty Future above 4767 - 4784 - 4810 - 4835 SL - 4757
Sell Nifty Future below 4751 - 4737 - 4715 - 4685 SL - 4766

BANKNIFTY TECHNICAL

Current Spot: 8454.90
Pivot: 8455
5DEMA: 8311
10DEMA: 8269
20DEMA: 8348
50DEMA: 8617
RSI (14 days): 51.21
Parabolic SAR: 7810
Supports: 8394 - 8333 - 8272
Resistance: 8516 - 8577 - 8638
CAM Support: 8444 - 8433 - 8421 - 8388
CAM Resistance: 8466 - 8477 - 8488 - 8522
Bank Nifty VIX Range: 8247 - 8606

Bank Nifty Future VWAP: 8439.04
MP Values Bank Nifty Future: VAH - 8470, POC - 8430, VAL - 8390

TARGET BANKNIFTY
Buy BankNifty Future above 8442 - 8470 - 8505 - 8585 SL - 8419
Sell BankNifty Future below 8414 - 8360 - 8285 - 8200 SL - 8440

INTRADAY TRADE
Reliance Industries: Buy above 710 for targets of 714, 720, 732 SL 704
Reliance Industries: Sell below 698 for targets of 694, 688, 676 SL 708
Cairn: Buy above 340 for targets of 344, 349 SL 335
IndiaBulls: Buy above 150 for targets of 152, 156 SL 147

SCORE SHEET
McDowell-N: Buy above 565 for targets of 572, 580 SL 555: SL Hit
Hindalco: Buy above 119 for targets of 120, 122 SL 117: Call not activated

POSITIONAL TRADE
TataMetali: Buy above 72 for target of 78.5 SL 70 (2-3 Days)
IDFC: Buy above 101 for target of 110 SL 99 (1 Week)

Thanks and Regards

S&P Wealth Creators