Market outlook for 02/06/2014

Nifty closed down 5.70 points (0.08%) at 7229.95 while Future closed at 7233.65, premium of 3.70 points.
Bank Nifty closed down 236.90 points (1.58%) at 14793.40 while Future closed at 14758.95, discount of 34.45 points.

• FII bought huge in Cash (Net buy 2977.62 Crore)
• FII sold in stock future but bought in index future, index option (Net sell 246.70 Crore)
• DII sold in Cash (Net sell 458.15 Crore)
• Most Active Nifty Call Option: 7500 and 7400.
• Most Active Nifty Put Options: 7200 and 7000.
• Advance Decline for the day was 763:789.
• McClellan's oscillator for NSE at +16.

NIFTY TECHNICAL

Current Spot: 7229.95
Pivot: 7207
5DEMA: 7269
10DEMA: 7244
20DEMA: 7137
50DEMA: 6896
RSI (14 days): 64.87
Parabolic SAR: 7564
Supports: 7141 - 7053 - 6987
Resistance: 7295 - 7361 - 7450

Nifty Future VIX Range: 7165 - 7295
Nifty Future VWAP: 7254.44
MP Values Nifty Future: VAH - 7280, POC - 7261, VAL - 7242

TARGET NIFTY
Buy Nifty Future above 7261 - 7275 - 7310 - 7345 SL - 7242
Sell Nifty Future below 7223 - 7210 - 7185 - 7140 SL - 7255

BANKNIFTY TECHNICAL

Current Spot: 14793.40
Pivot: 14871
5DEMA: 14988
10DEMA: 14894
20DEMA: 14483
50DEMA: 13503
RSI (14 days): 64.15
Parabolic SAR: 15690
Supports: 14632 - 14471 - 14233
Resistance: 15032 - 15270 - 15431

Bank Nifty Future VIX Range: 14466 - 14944
Bank Nifty Future VWAP: 14886.45
MP Values Bank Nifty Future: VAH - 14992, POC - 14873, VAL - 14754

TARGET BANKNIFTY
Buy BankNifty Future above 14873 - 14970 - 15100 - 15250 SL - 14754
Sell BankNifty Future below 14737 - 14640 - 14510 - 14355 SL - 14860

INTRADAY TRADE
Adaniports: Buy above 230 for targets of 233, 240 SL 225
Ntpc: Buy above 161 for targets of 163, 167 SL 158

SCORE SHEET
Techno: Buy above 252 for targets of 255, 265 SL 248: Target 262.05 done
BankIndia: Buy above 327 for targets of 331, 337 SL 323: Target 329.45 done

POSITIONAL TRADE
TvToday: Buy above 153 for target of 168 SL 146 (2-3 Days)
ZeeMedia: Buy above 17.8 for target of 19 SL 17.5 (1 Week)

Thanks and Regards

MarketPulse S&P