Market outlook for 01/08/2014

Nifty closed down 70.10 points (0.90%) at 7721.30 while Future closed at 7750.55, premium of 29.25 points.
Bank Nifty closed down 184.80 points (1.20%) at 15267.60 while Future closed at 15365.85, premium of 98.25 points.

• FII sold huge in Cash (Net sell 1654.86 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 1283.81 Crore)
• DII bought in Cash (Net buy 1420.36 Crore)
• Most Active Nifty Call Option: 7800 and 8000.
• Most Active Nifty Put Options: 7700 and 7600.
• Advance Decline for the day was 728:789.
• McClellan's oscillator for NSE at -49.

NIFTY TECHNICAL

Current Spot: 7721.30
Pivot: 7741
5DEMA: 7755
10DEMA: 7733
20DEMA: 7684
50DEMA: 7522
RSI (14 days): 55.99
Parabolic SAR: 7628
Supports: 7691 - 7661 - 7610
Resistance: 7772 - 7822 - 7852

Nifty Future VIX Range: 7684 - 7808
Nifty Future VWAP: 7784.06
MP Values Nifty Future: VAH - 7795, POC - 7770, VAL - 7745

TARGET NIFTY
Buy Nifty Future above 7771 - 7795 - 7835 - 7875 SL - 7745
Sell Nifty Future below 7739 - 7725 - 7695 - 7650 SL - 7770

BANKNIFTY TECHNICAL

Current Spot: 15267.60
Pivot: 15333
5DEMA: 15335
10DEMA: 15308
20DEMA: 15247
50DEMA: 14973
RSI (14 days): 52.19
Parabolic SAR: 15046
Supports: 15167 - 15067 - 14901
Resistance: 15434 - 15600 - 15700

Bank Nifty Future VIX Range: 15136 - 15532
Bank Nifty Future VWAP: 15470.17
MP Values Bank Nifty Future: VAH - 15526, POC - 15440, VAL - 15354

TARGET BANKNIFTY
Buy BankNifty Future above 15442 - 15525 - 15680 - 15800 SL - 15354
Sell BankNifty Future below 15345 - 15270 - 15170 - 14995 SL - 15440

INTRADAY TRADE
Cipla: Buy above 459 for targets of 463, 471 SL 454
TataSteel: Buy above 556 for targets of 561, 571 SL 552

SCORE SHEET
Idea: Buy above 157.5 for targets of 159, 162 SL 154: Target 158.60 done
Dlf: Buy above 201 for targets of 203, 207 SL 197: Target 204.00 done

POSITIONAL TRADE
Irb: Buy above 259 for target of 269 SL 254 (2-3 Days)
Renuka: Buy above 23.1 for target of 25.2 SL 22.6 (1 Week)

Thanks and Regards

MarketPulse S&P