Market outlook for 29/03/11

Nifty closed up 33.00 points (0.58%) at 5687.25 while Nifty March Future closed at 5699.65 premium of 12.40 points.
Bank Nifty closed up 136.10 points (1.20%) at 11523.40 while March Future closed at 11559.30 premium of 35.90 points.

• FII bought in Cash (Net buy 890.02 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 902.46 Crore)
• DII sold in Cash (Net sell 286.52 Crore)
• US market is flat as of now.
• Global cues are flat.
• SGX nifty is flat as of now.
• Most Active Nifty March Call Option: 5700 and 5800.
• Most Active Nifty March Put Options: 5700 and 5600.
• Advance Decline for the day was 654:742.

NIFTY TECHNICAL

Current Spot: 5687.25
Pivot: 5680
5DEMA: 5581
10DEMA: 5529
20DEMA: 5500
50DEMA: 5552
RSI (15 days): 60.75
Parabolic SAR: 5355
Supports: 5651 - 5614
Resistance: 5717 - 5746

Nifty Future VWAP: 5696.88
MP Values Futures: VAH - 5710, POC - 5692, VAL - 5674

TARGET NIFTY
Buy Nifty Future above 5704 - 5728 - 5760 - 5794 SL - 5695
Sell Nifty Future below 5689 - 5669 - 5635 - 5601 SL - 5701

BANKNIFTY TECHNICAL

Current Spot: 11523.40
Pivot: 11490
5DEMA: 11223
10DEMA: 11065
20DEMA: 10942
50DEMA: 10897
RSI (15 days): 64.45
Parabolic SAR: 10250
Supports: 11381 - 11239
Resistance: 11632 - 11741

Bank Nifty Future VWAP: 11548.97
MP Values Bank Nifty Futures: VAH - 11608, POC - 11538, VAL - 11468

TARGET BANKNIFTY
Buy BankNifty Future above 11568 - 11683 - 11813 - 11989 SL - 11507
Sell BankNifty Future below 11495 - 11389 - 10212 - 11083 SL - 11528

INTRADAY TRADE
Reliance Industries: Buy above 1028 for targets of 1031, 1036, 1045 SL 1023
Reliance Industries: Sell below 1020 for targets of 1018, 1013, 1006 SL 1028
IDFC: Buy above 160 for targets of 161.5,163.5 SL 158.5
GTOffshore: Buy above 262 for targets of 265, 272 SL 254

SCORE SHEET
Arevat&d: Buy above 247 for targets of 250, 254 SL 242: Call not activated
BataIndia: Buy above 384 for targets of 387, 392 SL 375: Call not activated

POSITIONAL TRADE
LICHsgfin: Buy above 223 for target of 239 SL 216 (One Week)
Camlin: Buy above 54 for target of 58 SL 52 (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