Market outlook for 06/06/2014

Nifty closed up 71.85 points (0.97%) at 7474.10 while Future closed at 7486.75, premium of 12.65 points.
Bank Nifty closed down 51.25 points (0.33%) at 15282.15 while Future closed at 15317.40, premium of 35.25 points.

• FII bought huge in Cash (Net buy 1368.97 Crore)
• FII bought in index option, stock future but sold in index future (Net buy 586.46 Crore)
• DII sold in Cash (Net sell 425.79 Crore)
• Most Active Nifty Call Option: 7500 and 7600.
• Most Active Nifty Put Options: 7400 and 7300.
• Advance Decline for the day was 1128:444.
• McClellan's oscillator for NSE at +60.

NIFTY TECHNICAL

Current Spot: 7474.10
Pivot: 7440
5DEMA: 7398
10DEMA: 7342
20DEMA: 7230
50DEMA: 6981
RSI (14 days): 75.08
Parabolic SAR: 7529
Supports: 7395 - 7316 - 7271
Resistance: 7519 - 7564 - 7643

Nifty Future VIX Range: 7428 - 7568
Nifty Future VWAP: 7443.95
MP Values Nifty Future: VAH - 7498, POC - 7472, VAL - 7416

TARGET NIFTY
Buy Nifty Future above 7492 - 7520 - 7565 - 7620 SL - 7443
Sell Nifty Future below 7442 - 7415 - 7375 - 7325 SL - 7472

BANKNIFTY TECHNICAL

Current Spot: 15282.15
Pivot: 15257
5DEMA: 15232
10DEMA: 15113
20DEMA: 14750
50DEMA: 13804
RSI (14 days): 69.23
Parabolic SAR: 15542
Supports: 15177 - 15072 - 14993
Resistance: 15362 - 15442 - 15547

Bank Nifty Future VIX Range: 15079 - 15581
Bank Nifty Future VWAP: 15296.26
MP Values Bank Nifty Future: VAH - 15338, POC - 15282, VAL - 15226

TARGET BANKNIFTY
Buy BankNifty Future above 15338 - 15405 - 15500 - 15615 SL - 15282
Sell BankNifty Future below 15277 - 15210 - 15095 - 14995 SL - 15305

INTRADAY TRADE
Hindalco: Buy above 171 for targets of 173, 177 SL 167
TataSteel: Buy above 559 for targets of 564, 573 SL 551

SCORE SHEET
Max: Buy above 332 for targets of 336, 349 SL 323: Call not Active
Heg: Buy above 279 for targets of 283, 291 SL 274: Target 288.00 done

POSITIONAL TRADE
Alembicltd: Buy above 22.9 for target of 24.3 SL 22 (2-3 Days)
Trident: Buy above 21.6 for target of 24 SL 20.7 (1 Week)

Thanks and Regards

MarketPulse S&P