Market outlook for 08/01/2013

Nifty closed down 27.75 points (0.46%) at 5988.40 while Nifty Future closed at 6023.70, premium of 35.30 points.
Bank Nifty closed down 78.65 points (0.62%) at 12708.70 while Future closed at 12796.45, premium of 87.75 points.

• FII bought in Cash (Net buy 963.05 Crore)
• FII sold in index future, stock future but bought in index option (Net sell 226.16 Crore)
• DII sold in Cash (Net sell 901.16 Crore)
• Most Active Nifty Call Option: 6100 and 6200.
• Most Active Nifty Put Options: 6000 and 5900.
• Advance Decline for the day was 841:683.

NIFTY TECHNICAL

Current Spot: 5988.40
Pivot: 6003
5DEMA: 5983
10DEMA: 5956
20DEMA: 5914
50DEMA: 5831
RSI (14 days): 63.52
Parabolic SAR: 5861
Supports: 5963 - 5938 - 5898
Resistance: 6028 - 6068 - 6093

Nifty Future VIX Range: 5982 - 6065
Nifty Future VWAP: 6037.77
MP Values Nifty Future: VAH - 6054, POC - 6040, VAL - 6026

TARGET NIFTY
Buy Nifty Future above 6041 - 6054 - 6074 - 6090 SL - 6025
Sell Nifty Future below 6020 - 6010 - 5990 - 5965 SL - 6040

BANKNIFTY TECHNICAL

Current Spot: 12708.70
Pivot: 12743
5DEMA: 12707
10DEMA: 12626
20DEMA: 12474
50DEMA: 12124
RSI (14 days): 68.26
Parabolic SAR: 12362
Supports: 12649 - 12588 - 12494
Resistance: 12803 - 12898 - 12958

Bank Nifty Future VIX Range: 12683 - 12910
Bank Nifty Future VWAP: 12831.67
MP Values Bank Nifty Future: VAH - 12867, POC - 12831, VAL - 12795

TARGET BANKNIFTY
Buy BankNifty Future above 12835 - 12865 - 12940 - 13000 SL - 12794
Sell BankNifty Future below 12790 - 12755 - 12705 - 12620 SL - 12832

INTRADAY TRADE
Reliance Industries: Buy above 864 for targets of 868, 877 SL 858
Reliance Industries: Sell below 853 for targets of 849, 840 SL 862
Tatachem: Buy above 375 for targets of 379, 385 SL 371
JswSteel: Buy above 858 for targets of 866, 880 SL 848

SCORE SHEET
Ingvysyabk: Buy above 555 for targets of 560, 570 SL 547: Target 573.90 achieved
Centurytex: Buy above 450 for targets of 455, 461 SL 444: SL Hit

POSITIONAL TRADE
Indiabulls: Buy above 333 for target of 352 SL 326 (2-3 Days)
Sail: Buy above 100 for target of 108 SL 98 (1 Week)

Thanks and Regards

S&P Wealth Creators