Market outlook for 09/06/2014

Nifty closed up 109.30 points (1.46%) at 7583.40 while Future closed at 7590.75, premium of 7.35 points.
Bank Nifty closed up 261.00 points (1.71%) at 15543.15 while Future closed at 15570.45, premium of 27.30 points.

• FII bought huge in Cash (Net buy 1283.04 Crore)
• FII bought in index option, stock future but sold in index future (Net buy 737.80 Crore)
• DII sold in Cash (Net sell 315.15 Crore)
• Most Active Nifty Call Option: 7600 and 7700.
• Most Active Nifty Put Options: 7500 and 7400.
• Advance Decline for the day was 1100:489.
• McClellan's oscillator for NSE at +66.

NIFTY TECHNICAL

Current Spot: 7583.40
Pivot: 7558
5DEMA: 7460
10DEMA: 7386
20DEMA: 7264
50DEMA: 7023
RSI (14 days): 78.54
Parabolic SAR: 7118
Supports: 7523 - 7463 - 7428
Resistance: 7618 - 7653 - 7713

Nifty Future VIX Range: 7525 - 7673
Nifty Future VWAP: 7551.74
MP Values Nifty Future: VAH - 7572, POC - 7537, VAL - 7515

TARGET NIFTY
Buy Nifty Future above 797 - 7620 - 7655 - 7690 SL - 7569
Sell Nifty Future below 7551 - 7535 - 7505 - 7455 SL - 7573

BANKNIFTY TECHNICAL

Current Spot: 15543.15
Pivot: 15480
5DEMA: 15336
10DEMA: 15191
20DEMA: 14828
50DEMA: 13960
RSI (14 days): 72.28
Parabolic SAR: 14709
Supports: 15384 - 15225 - 15129
Resistance: 15639 - 15735 - 15895

Bank Nifty Future VIX Range: 15308 - 15818
Bank Nifty Future VWAP: 15491.90
MP Values Bank Nifty Future: VAH - 15593, POC - 15511, VAL - 15429

TARGET BANKNIFTY
Buy BankNifty Future above 15593 - 15665 - 15770 - 15900 SL - 15490
Sell BankNifty Future below 15484 - 15410 - 15255 - 15140 SL - 15515

INTRADAY TRADE
Erosmedia: Buy above 235 for targets of 238, 247 SL 227
Prestige: Buy above 232 for targets of 235, 245 SL 226

SCORE SHEET
Hindalco: Buy above 171 for targets of 173, 177 SL 167: Target 172.10 done
TataSteel: Buy above 559 for targets of 564, 573 SL 551: Target 568.75 done

POSITIONAL TRADE
TataGlobal: Buy above 173 for target of 188 SL 167 (2-3 Days)
Maxwell: Buy above 22 for target of 24 SL 21.5 (1 Week)

Thanks and Regards

MarketPulse S&P