Market outlook for 03/03/2014

Nifty closed up 38.15 points (0.61%) at 6276.95 while Nifty Future closed at 6289.25, premium of 12.30 points.
Bank Nifty closed up 34.30 points (0.32%) at 10764.70 while Future closed at 10782.05, premium of 17.35 points.

• FII bought in Cash (Net buy 591.82 Crore)
• FII bought in stock future, index option but sold in index future (Net buy 2083.63 Crore)
• DII bought in Cash (Net buy 12.02 Crore)
• Most Active Nifty Call Option: 6300 and 6400.
• Most Active Nifty Put Options: 6300 and 6200.
• Advance Decline for the day was 734:719.
• McClellan's oscillator for NSE at +12.

NIFTY TECHNICAL

Current Spot: 6276.95
Pivot: 6263
5DEMA: 6217
10DEMA: 6174
20DEMA: 6149
50DEMA: 6156
RSI (14 days): 63.57
Parabolic SAR: 6029
Supports: 6242 - 6208 - 6188
Resistance: 6297 - 6317 - 6352

Nifty Future VIX Range: 6234 - 6330
Nifty Future VWAP: 6280.18
MP Values Nifty Future: VAH – 6285, POC - 6278, VAL - 6271

TARGET NIFTY
Buy Nifty Future above 6294 - 6305 - 6320 - 6340 SL - 6277
Sell Nifty Future below 6271 - 6260 - 6245 - 6225 SL - 6285

BANKNIFTY TECHNICAL

Current Spot: 10764.70
Pivot: 10749
5DEMA: 10678
10DEMA: 10586
20DEMA: 10547
50DEMA: 10699
RSI (14 days): 57.35
Parabolic SAR: 10190
Supports: 10705 - 10644 - 10600
Resistance: 10809 - 10854 - 10914

Bank Nifty Future VIX Range: 10635 - 10913
Bank Nifty Future VWAP: 10766.48
MP Values Bank Nifty Future: VAH - 10789, POC - 10765, VAL - 10741

TARGET BANKNIFTY
Buy BankNifty Future above 10790 - 10825 - 10870 - 10930 SL - 10764
Sell BankNifty Future below 10756 - 10730 - 10675 - 10630 SL - 10789

INTRADAY TRADE
BankIndia: Buy above 172 for targets of 174, 177 SL 168
Crompgreav: Buy above 129 for targets of 131, 133 SL 126

SCORE SHEET
Itc: Buy above 329 for targets of 332, 336 SL 325: Target 332.00 done
Bhel: Buy above 163 for targets of 165, 168 SL 160: Target 168.90 done

POSITIONAL TRADE
UcoBank: Buy above 65 for target of 69 SL 63 (2-3 Days)
Ptc: Buy above 62.5 for target of 68 SL 60 (1 Week)

Thanks and Regards

MarketPulse S&P