Market outlook for 06/05/2014

Nifty closed up 4.55 points (0.07%) at 6699.35 while Future closed at 6735.50, premium of 36.15 points.
Bank Nifty closed up 38.65 points (0.30%) at 12880.65 while Future closed at 12973.65, premium of 93.00 points.

• FII bought in Cash (Net buy 279.86 Crore)
• FII sold in index option, stock future but bought in index future (Net sell 967.11 Crore)
• DII sold in Cash (Net sell 224.52 Crore)
• Most Active Nifty Call Option: 7000 and 7200.
• Most Active Nifty Put Options: 6500 and 6400.
• Advance Decline for the day was 632:861.
• McClellan's oscillator for NSE at -34.

NIFTY TECHNICAL

Current Spot: 6699.35
Pivot: 6707
5DEMA: 6716
10DEMA: 6732
20DEMA: 6713
50DEMA: 6562
RSI (14 days): 52.59
Parabolic SAR: 6861
Supports: 6673 - 6646 - 6612
Resistance: 6733 - 6768 - 6794

Nifty Future VIX Range: 6688 - 6775
Nifty Future VWAP: 6745.67
MP Values Nifty Future: VAH - 6758, POC - 6742, VAL - 6726

TARGET NIFTY
Buy Nifty Future above 6747 - 6765 - 6795 - 6830 SL - 6726
Sell Nifty Future below 6725 - 6705 - 6680 - 6645 SL - 6746

BANKNIFTY TECHNICAL

Current Spot: 12880.65
Pivot: 12878
5DEMA: 12897
10DEMA: 12889
20DEMA: 12759
50DEMA: 12173
RSI (14 days): 59.54
Parabolic SAR: 12773
Supports: 12775 - 12670 - 12567
Resistance: 12984 - 13087 - 13192

Bank Nifty Future VIX Range: 12825 - 13141
Bank Nifty Future VWAP: 12986.10
MP Values Bank Nifty Future: VAH - 13047, POC - 12991, VAL - 12935

TARGET BANKNIFTY
Buy BankNifty Future above 12991 - 13070 - 13190 - 13310 SL - 12956
Sell BankNifty Future below 12953 - 12865 - 12750 - 12640 SL - 12986

INTRADAY TRADE
Canbk: Buy above 308 for targets of 311, 320 SL 302
Tubeinvest: Buy above 215 for targets of 218, 226 SL 209

SCORE SHEET
Amtekauto: Buy above 185.5 for targets of 188, 192 SL 182: SL Hit
RelInfra: Buy above 521 for targets of 524, 531 SL 515: Target 529.20 done

POSITIONAL TRADE
Hsil: Buy above 184 for target of 200 SL 179 (2-3 Days)
Sonasteer: Buy above 23.6 for target of 26 SL 22.9 (1 Week)

Thanks and Regards

MarketPulse S&P