Market outlook for 06/02/2014

Nifty closed up 21.50 points (0.36%) at 6022.40 while Nifty Future closed at 6048.95, premium of 26.55 points.
Bank Nifty closed up 40.45 points (0.40%) at 10231.65 while Future closed at 10266.10, premium of 34.45 points.

• FII sold in Cash (Net sell 576.20 Crore)
• FII sold in index future, stock future but bought in index option (Net sell 333.26 Crore)
• DII bought in Cash (Net buy 815.23 Crore)
• Most Active Nifty Call Option: 6100 and 6200.
• Most Active Nifty Put Options: 6000 and 5900.
• Advance Decline for the day was 852:571.
• McClellan's oscillator for NSE at -21.

NIFTY TECHNICAL

Current Spot: 6022.40
Pivot: 6004
5DEMA: 6045
10DEMA: 6099
20DEMA: 6155
50DEMA: 6194
RSI (14 days): 34.19
Parabolic SAR: 6229
Supports: 5980 - 5938 - 5914
Resistance: 6046 - 6070 - 6112

Nifty Future VIX Range: 5991 - 6097
Nifty Future VWAP: 6019.40
MP Values Nifty Future: VAH - 6030, POC - 6003, VAL - 5984

TARGET NIFTY
Buy Nifty Future above 6053 - 6070 - 6095 - 6140 SL - 6026
Sell Nifty Future below 6022 - 6005 - 5965 - 5935 SL - 6035

BANKNIFTY TECHNICAL

Current Spot: 10231.65
Pivot: 10199
5DEMA: 10255
10DEMA: 10418
20DEMA: 10652
50DEMA: 10950
RSI (14 days): 33.42
Parabolic SAR: 10841
Supports: 10145 - 10058 - 10003
Resistance: 10286 - 10341 - 10428

Bank Nifty Future VIX Range: 10105 - 10425
Bank Nifty Future VWAP: 10225.47
MP Values Bank Nifty Future: VAH - 10266, POC - 10226, VAL - 10186

TARGET BANKNIFTY
Buy BankNifty Future above 10274 - 10320 - 10385 - 10475 SL - 10225
Sell BankNifty Future below 10219 - 10180 - 10090 - 10025 SL - 10266

INTRADAY TRADE
Reliance: Buy above 819 for targets of 823, 831 SL 813
Reliance: Sell below 811 for targets of 807, 799 SL 817
Relaxo: Buy above 265 for targets of 269, 278 SL 258
Recltd: Buy above 188 for targets of 190, 193 SL 185

SCORE SHEET
Canbk: Buy above 221 for targets of 223, 227 SL 218: Target 223.95 done
Finantech: Buy above 291 for targets of 294, 300 SL 283: Target 300.00 done

POSITIONAL TRADE
Selan: Buy above 460 for target of 485 SL 447 (2-3 Days)
Ifci: Buy above 22.6 for target of 24 SL 22.2 (1 Week)

Thanks and Regards

MarketPulse S&P