Market outlook for 17/03/11

Nifty closed up 61.50 points (1.13%) at 5511.15 while Nifty March Future closed at 5523.85 premium of 12.70 points.
Bank Nifty closed up 231.80 points (2.16%) at 10957.60 while March Future closed at 10965.80 premium of 8.20 points.

• FII sold in Cash (Net sell 134.52 Crore)
• FII bought in index future, stock future and index option (Net buy 1110.65 Crore)
• DII bought in Cash (Net buy 326.72 Crore)
• US market is trading negative.
• Global cues are flat to negative.
• SGX nifty is negative as of now.
• Most Active Nifty March Call Option: 5500 and 5600.
• Most Active Nifty March Put Options: 5500 and 5400.
• Advance Decline for the day was 992:399.

NIFTY TECHNICAL

Current Spot: 5511.15
Pivot: 5507
5DEMA: 5492
10DEMA: 5485
20DEMA: 5481
50DEMA: 5566
RSI (15 days): 50.89
Parabolic SAR: 5343
Supports: 5480 - 5448
Resistance: 5539 - 5567

Nifty Future VWAP: 5523.80
MP Values Futures: VAH - 5542, POC - 5524, VAL - 5424

TARGET NIFTY
Buy Nifty Future above 5528 - 5556 - 5591 - 5632 SL - 5514
Sell Nifty Future below 5510 - 5486 - 5445 - 5410 SL - 5523

BANKNIFTY TECHNICAL

Current Spot: 10957.60
Pivot: 10912
5DEMA: 10859
10DEMA: 10835
20DEMA: 10796
50DEMA: 10849
RSI (15 days): 53.71
Parabolic SAR: 11039
Supports: 10823 - 10688
Resistance: 11047 - 11136

Bank Nifty Future VWAP: 10939.35
MP Values Bank Nifty Futures: VAH - 11022, POC - 10968, VAL - 10880

TARGET BANKNIFTY
Buy BankNifty Future above 10974 - 11062 - 11163 - 11290 SL - 10917
Sell BankNifty Future below 10906 - 10827 - 10689 - 10599 SL - 10929

INTRADAY TRADE
Reliance Industries: Buy above 1050 for targets of 1053, 1058, 1065 SL 1044
Reliance Industries: Sell below 1041 for targets of 1038, 1034, 1028 SL 1049
Bfutilitie: Buy above 160 for targets of 162, 165 SL 160
Escorts: Buy above 135.5 for targets of 137, 140 SL 133.5

SCORE SHEET
Centralbk: Buy above 160 for targets of 162, 165 SL 160: Target 174.45 achieved
Amtekauto: Buy above 119.5 for targets of 121.5, 125 SL 116.5: Target 125.8 achieved

POSITIONAL TRADE
Titan: Buy above 3540 for target of 3684 SL 3485 (One Week)
Lichsgfin: Buy above 198 for target of 207 SL 194 (One Week)

Use strict STOP LOSS in each and every trade in this kind of volatile market and Trade at your own risk.

Thanks and Regards

S&P Wealth Creators