Market outlook for 08/05/2013

Nifty closed up 72.55 points (1.21%) at 6043.55 while Nifty Future closed at 6050.30, premium of 6.75 points.
Bank Nifty closed up 235.10 points (1.90%) at 12631.50 while Future closed at 12596.60, discount of 34.90 points.

• FII bought in Cash (Net buy 655.21 Crore)
• FII sold in index option, stock future but bought in index future (Net sell 482.23 Crore)
• DII sold in Cash (Net sell 729.17 Crore)
• Most Active Nifty Call Option: 6000 and 6100.
• Most Active Nifty Put Options: 6000 and 5900.
• Advance Decline for the day was 793:518.

NIFTY TECHNICAL

Current Spot: 6043.55
Pivot: 6026
5DEMA: 5976
10DEMA: 5916
20DEMA: 5839
50DEMA: 5805
RSI (14 days): 68.15
Parabolic SAR: 5829
Supports: 6001 - 5958 - 5933
Resistance: 6068 - 6093 - 6136

Nifty Future VIX Range: 5992 - 6110
Nifty Future VWAP: 6025.88
MP Values Nifty Future: VAH - 6049, POC - 6028, VAL - 6007

TARGET NIFTY
Buy Nifty Future above 6055 - 6075 - 6100 - 6140 SL - 6028
Sell Nifty Future below 6019 - 6005 - 5985 - 5945 SL - 6049

BANKNIFTY TECHNICAL

Current Spot: 12631.50
Pivot: 12562
5DEMA: 12530
10DEMA: 12430
20DEMA: 12190
50DEMA: 11996
RSI (14 days): 63.63
Parabolic SAR: 12771
Supports: 12474 - 12317 - 12229
Resistance: 12719 - 12807 - 12964

Bank Nifty Future VIX Range: 12411 - 12799
Bank Nifty Future VWAP: 12516.81
MP Values Bank Nifty Future: VAH - 12542, POC - 12476, VAL - 12410

TARGET BANKNIFTY
Buy BankNifty Future above 12605 - 12670 - 12760 - 12860 SL - 12525
Sell BankNifty Future below 12509 - 12450 - 12380 - 12280 SL - 12542

INTRADAY TRADE
Reliance: Buy above 830 for targets of 835, 845 SL 825
Reliance: Sell below 824 for targets of 819, 809 SL 829
Recltd: Buy above 234 for targets of 236, 241 SL 229
Dabur: Buy above 162.5 for targets of 164, 166 SL 160.5

SCORE SHEET
CenturyTex: Buy above 300 for targets of 303, 308 SL 296: Target 318.25 done
Jpassociat: Buy above 75.9 for targets of 76.7, 78 SL 74.8: Target 76.75 done

POSITIONAL TRADE
Ceatltd: Buy above 119 for target of 125 SL 117 (2-3 Days)
Voltas: Buy above 90 for target of 96 SL 88.50 (1 Week)

Thanks and Regards

S&P Wealth Creators