Market outlook for 08/10/2012

Nifty closed down 40.65 points (0.70%) at 5746.95 while Nifty Future closed at 5776.55, premium of 29.60 points.
Bank Nifty closed down 124.65 points (1.07%) at 11511.40 while Future closed at 11575.75, premium of 64.35 points.

• FII bought in Cash (Net buy 4351.99 Crore)
• FII sold in index future, stock future but bought in index option (Net sell 563.94 Crore)
• DII sold in Cash (Net sell 189.10 Crore)
• Most Active Nifty Call Option: 5800 and 5900.
• Most Active Nifty Put Options: 5800 and 5700.
• Advance Decline for the day was 450:1078.

NIFTY TECHNICAL

Current Spot: 5746.95
Pivot: 5756
5DEMA: 5735
10DEMA: 5691
20DEMA: 5605
50DEMA: 5471
RSI (14 days): 70.11
Parabolic SAR: 5815
Supports: 5697 - 5647 - 5588
Resistance: 5806 - 5865 - 5916

Nifty Future VIX Range: 5724 - 5829
Nifty Future VWAP: 5780.25
MP Values Nifty Future: VAH - 5812, POC - 5786, VAL - 5760

TARGET NIFTY
Buy Nifty Future above 5786 - 5830 - 5875 - 5915 SL - 5760
Sell Nifty Future below 5759 - 5725 - 5690 - 5635 SL - 5777

BANKNIFTY TECHNICAL

Current Spot: 11511.40
Pivot: 11564
5DEMA: 11489
10DEMA: 11354
20DEMA: 11075
50DEMA: 10740
RSI (14 days): 71.14
Parabolic SAR: 11745
Supports: 11383 - 11254 - 11072
Resistance: 11693 - 11874 - 12003

Bank Nifty Future VIX Range: 11410 - 11742
Bank Nifty Future VWAP: 11611.50
MP Values Bank Nifty Future: VAH - 11653, POC - 11567, VAL - 11511

TARGET BANKNIFTY
Buy BankNifty Future above 11638 - 11740 - 11865 - 11990 SL - 11623
Sell BankNifty Future below 11566 - 11465 - 11350 - 11185 SL - 11635

INTRADAY TRADE
Reliance Industries: Buy above 860 for targets of 864, 870, 880 SL 856
Reliance Industries: Sell below 853 for targets of 850, 844, 834 SL 859
Bomdyeing: Buy above 541 for targets of 546, 555 SL 532
Recltd: Buy above 228 for targets of 231, 235 SL 224

SCORE SHEET
Zeel: Buy above 205 for targets of 207, 212 SL 202: Target 207.70 done
Omaxe: Buy above 167 for targets of 169, 174 SL 164: Target 170.00 done

POSITIONAL TRADE
Escorts: Buy above 69 for target of 73 SL 67.50 (2-3 Days)
Crompgreav: Buy above 140 for target of 155 SL 135 (1 Week)

Thanks and Regards

S&P Wealth Creators