i) Away from the magnet

ii) The direction of the magnetic moment is opposite to that of the magnetic field applied.

Explanation:

Now considering both superconducting material and liquid nitrogen are diamagnetic in nature, thereby after dipping the ball in liquid nitrogen it will come out as a diamagnetic material. The ball has acquired diamagnetic properties, when in contact with a magnet will form magnetic poles in opposite direction of the magnet kept thereby, repelling the ball away.

As the ball is repelled away it can be said that the magnetic moment will form opposite in direction to the magnetic field applied.