Market outlook for 21/04/11

Nifty closed up 110.90 points (1.93%) at 5851.65 while Nifty April Future closed at 5870.60 premium of 18.95 points.
Bank Nifty closed up 207.80 points (1.79%) at 11794.55 while April Future closed at 11843.05 premium of 48.50 points.

• FII bought in Cash (Net buy 193.00 Crore)
• FII bought in index future, index option but sold in Stock Future (Net buy 1599.32 Crore)
• DII sold in Cash (Net sell 23.28 Crore)
• US market is trading in GREEN.
• Global cues are positive.
• SGX nifty is flat to positive as of now.
• Most Active Nifty April Call Option: 5800 and 5900.
• Most Active Nifty April Put Options: 5800 and 5700.
• Advance Decline for the day was 1026:361.

NIFTY TECHNICAL

Current Spot: 5851.65
Pivot: 5823
5DEMA: 5808
10DEMA: 5805
20DEMA: 5753
50DEMA: 5657
RSI (15 days): 58.18
Parabolic SAR: 5912
Supports: 5788 - 5725
Resistance: 5886 - 5921
DeMark’s: 5806 - 5903

Nifty Future VWAP: 5823.79
MP Values Futures: VAH - 5842, POC - 5814, VAL - 5786

TARGET NIFTY
Buy Nifty Future above 5875 - 5905 - 5945 - 6000 SL - 5835
Sell Nifty Future below 5830 - 5803 - 5750 - 5695 SL - 5845

BANKNIFTY TECHNICAL

Current Spot: 11794.55
Pivot: 11741
5DEMA: 11691
10DEMA: 11663
20DEMA: 11528
50DEMA: 11221
RSI (15 days): 60.38
Parabolic SAR: 11941
Supports: 11668 - 11542
Resistance: 11867 - 11940
DeMark’s: 11705 - 11904

Bank Nifty Future VWAP: 11757.91
MP Values Bank Nifty Futures: VAH - 11776, POC - 11730, VAL - 11684

TARGET BANKNIFTY
Buy BankNifty Future above 11852 - 11910 - 11980 - 12050 SL - 11779
Sell BankNifty Future below 11767 - 11715 - 11590 - 11505 SL - 11790

INTRADAY TRADE
Reliance Industries: Buy above 1028 for targets of 1031, 1036, 1045 SL 1019
Reliance Industries: Sell below 1016 for targets of 1014, 1008, 1000 SL 1024
Jublfood: Buy above 684 for targets of 690, 700 SL 673
Hcltech: Buy above 525 for targets of 529, 535 SL 518

SCORE SHEET
UFlex: Buy above 182 for targets of 184, 188 SL 179: Target 184.90 achieved
Cairn: Buy above 346 for targets of 349, 354 SL 340: Target 349.10 achieved

POSITIONAL TRADE
Triveni: Buy above 105 for target of 112 SL 101 (One Week)
Deltacorp: Buy above 96 for target of 106 SL 93 (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