Market outlook for 18/03/11

Nifty closed down 64.50 points (1.17%) at 5446.65 while Nifty March Future closed at 5466.65 premium of 20.00 points.
Bank Nifty closed up 105.65 points (0.96%) at 10851.95 while March Future closed at 10909.55 premium of 57.60 points.

• FII sold huge in Cash (Net sell 1128.61 Crore)
• FII sold in index future, stock future but bought in index option (Net sell 3.42 Crore)
• DII bought in Cash (Net buy 432.07 Crore)
• US market is trading in Green.
• Global cues are flat to positive.
• SGX nifty is flat 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 483:890.

NIFTY TECHNICAL

Current Spot: 5446.65
Pivot: 5464
5DEMA: 5477
10DEMA: 5478
20DEMA: 5477
50DEMA: 5561
RSI (15 days): 47.26
Parabolic SAR: 5353
Supports: 5418 - 5389
Resistance: 5493 - 5539

Nifty Future VWAP: 5487.05
MP Values Futures: VAH - 5504, POC - 5480, VAL - 5456

TARGET NIFTY
Buy Nifty Future above 5486 - 5511 - 5558 - 5590 SL - 5470
Sell Nifty Future below 5458 - 5438 - 5406 - 5359 SL - 5485

BANKNIFTY TECHNICAL

Current Spot: 10851.95
Pivot: 10898
5DEMA: 10857
10DEMA: 10838
20DEMA: 10801
50DEMA: 10836
RSI (15 days): 51.42
Parabolic SAR: 11022
Supports: 10778 - 10704
Resistance: 10972 - 11092

Bank Nifty Future VWAP: 10950.12
MP Values Bank Nifty Futures: VAH - 10982, POC - 10914, VAL - 10862

TARGET BANKNIFTY
Buy BankNifty Future above 10948 - 11013 - 11122 - 11201 SL - 10929
Sell BankNifty Future below 10893 - 10836 - 10757 - 10648 SL - 10945

INTRADAY TRADE
Reliance Industries: Buy above 1041 for targets of 1043, 1048, 1054 SL 1033
Reliance Industries: Sell below 1027 for targets of 1025, 1021, 1015 SL 1038
Relmedia: Buy above 156.5 for targets of 158, 161 SL 154
Talwalkars: Buy above 226 for targets of 229, 234 SL 222

SCORE SHEET
Bfutilitie: Buy above 754 for targets of 765, 787 SL 742: Target 766.65 achieved
Escorts: Buy above 135.5 for targets of 137, 140 SL 133.5: Target 136.75 achieved

POSITIONAL TRADE
Rcom: Buy above 107 for target of 114 SL 105 (One Week)
Biocon: Buy above 330 for target of 349 SL 321 (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