Market outlook for 08/05/2014

Nifty closed down 62.75 points (0.93%) at 6652.55 while Future closed at 6681.65, premium of 29.10 points.
Bank Nifty closed down 27.85 points (0.21%) at 12938.20 while Future closed at 13013.15, premium of 74.95 points.

• FII bought in Cash (Net buy 119.11 Crore)
• FII sold in index future, index option, and in stock future (Net sell 1744.88 Crore)
• DII sold in Cash (Net sell 258.88 Crore)
• Most Active Nifty Call Option: 7000 and 7200.
• Most Active Nifty Put Options: 6700 and 6500.
• Advance Decline for the day was 597:879.
• McClellan's oscillator for NSE at -39.

NIFTY TECHNICAL

Current Spot: 6652.55
Pivot: 6671
5DEMA: 6695
10DEMA: 6715
20DEMA: 6707
50DEMA: 6575
RSI (14 days): 46.72
Parabolic SAR: 6853
Supports: 6624 - 6596 - 6548
Resistance: 6700 - 6747 - 6776

Nifty Future VIX Range: 6634 - 6721
Nifty Future VWAP: 6710.96
MP Values Nifty Future: VAH - 6737, POC - 6713, VAL - 6689

TARGET NIFTY
Buy Nifty Future above 6711 - 6725 - 6770 - 6805 SL - 6689
Sell Nifty Future below 6672 - 6655 - 6625 - 6580 SL - 6710

BANKNIFTY TECHNICAL

Current Spot: 12938.20
Pivot: 12944
5DEMA: 12926
10DEMA: 12909
20DEMA: 12794
50DEMA: 12236
RSI (14 days): 60.69
Parabolic SAR: 12813
Supports: 12872 - 12805 - 12732
Resistance: 13011 - 13084 - 13150

Bank Nifty Future VIX Range: 12853 - 13155
Bank Nifty Future VWAP: 13037.05
MP Values Bank Nifty Future: VAH - 13080, POC - 13043, VAL - 13006

TARGET BANKNIFTY
Buy BankNifty Future above 13046 - 13105 - 13205 - 13280 SL - 13006
Sell BankNifty Future below 12994 - 12945 - 12870 - 12770 SL - 13044

INTRADAY TRADE
Kajariacer: Buy above 495 for targets of 500, 512 SL 488
Max: Buy above 239 for targets of 242, 250 SL 235

SCORE SHEET
Titan: Buy above 273 for targets of 276, 284 SL 268: Call not Active
Atul: Buy above 742 for targets of 750, 768 SL 729: Target 747.80 done

POSITIONAL TRADE
Apollotyre: Buy above 169 for target of 178 SL 166 (2-3 Days)
Ace: Buy above 20.1 for target of 22 SL 19.4 (1 Week)

Thanks and Regards

MarketPulse S&P