Market outlook for 20/04/11

Nifty closed up 11.65 points (0.20%) at 5740.75 while Nifty April Future closed at 5760.30 premium of 19.55 points.
Bank Nifty closed up 47.00 points (0.41%) at 11586.75 while April Future closed at 11632.30 premium of 45.55 points.

• FII bought big in Cash (Net buy 1693.19 Crore)
• FII sold in index future, stock future but bought in Index Option (Net sell 526.83 Crore)
• DII bought in Cash (Net buy 208.33 Crore)
• US market is trading in flat.
• Global cues are flat.
• SGX nifty is flat as of now.
• Most Active Nifty April Call Option: 5700 and 5800.
• Most Active Nifty April Put Options: 5800 and 5700.
• Advance Decline for the day was 646:743.

NIFTY TECHNICAL

Current Spot: 5740.75
Pivot: 5732
5DEMA: 5786
10DEMA: 5794
20DEMA: 5743
50DEMA: 5648
RSI (15 days): 52.31
Parabolic SAR: 5926
Supports: 5702 - 5663
Resistance: 5771 - 5802
DeMark’s: 5717 - 5787

Nifty Future VWAP: 5744.36
MP Values Futures: VAH - 5756, POC - 5734, VAL - 5712

TARGET NIFTY
Buy Nifty Future above 5765 - 5790 - 5824 - 5865 SL - 5745
Sell Nifty Future below 5740 - 5719 - 5674 - 5645 SL - 5754

BANKNIFTY TECHNICAL

Current Spot: 11586.75
Pivot: 11567
5DEMA: 11640
10DEMA: 11633
20DEMA: 11500
50DEMA: 11181
RSI (15 days): 55.91
Parabolic SAR: 11951
Supports: 11502 - 11418
Resistance: 11651 - 11716
DeMark’s: 11534 - 11683

Bank Nifty Future VWAP: 11604.90
MP Values Bank Nifty Futures: VAH - 11632, POC - 11594, VAL - 11556

TARGET BANKNIFTY
Buy BankNifty Future above 11641 - 11695 - 11765 - 11860 SL - 11599
Sell BankNifty Future below 11590 - 11545 - 11450 - 11380 SL - 11615

INTRADAY TRADE
Reliance Industries: Buy above 1014 for targets of 1016, 1021, 1030 SL 1007
Reliance Industries: Sell below 1005 for targets of 1004, 998, 990 SL 1012
UFlex: Buy above 182 for targets of 184, 188 SL 179
Cairn: Buy above 346 for targets of 349, 354 SL 340

SCORE SHEET
GeShip: Buy above 285 for targets of 288, 295 SL 281: Target 305.00 achieved
Nelco: Buy above 89 for targets of 91, 94 SL 87.5: Target 96.35 achieved

POSITIONAL TRADE
Bajajhind: Buy above 80 for target of 88 SL 77 (One Week)
Pipavavyd: Buy above 89.5 for target of 96 SL 86 (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