Market outlook for 26/04/11

Nifty closed down 10.20 points (0.17%) at 5874.50 while Nifty April Future closed at 5886.50 premium of 12.00 points.
Bank Nifty closed down 15.75 points (0.13%) at 11879.00 while April Future closed at 11921.70 premium of 42.70 points.

• FII sold in Cash (Net sell 377.59 Crore)
• FII sold in index option and stock future but bought in index future (Net sell 553.84 Crore)
• DII bought in Cash (Net buy 236.62 Crore)
• US futures are trading flat to Negative.
• Global cues are flat.
• SGX nifty is flat to negative as of now.
• Most Active Nifty April Call Option: 5900 and 6000.
• Most Active Nifty April Put Options: 5900 and 5800.
• Advance Decline for the day was 590:801.

NIFTY TECHNICAL

Current Spot: 5874.50
Pivot: 5879
5DEMA: 5847
10DEMA: 5829
20DEMA: 5776
50DEMA: 5672
RSI (15 days): 58.92
Parabolic SAR: 5698
Supports: 5852 - 5830
Resistance: 5902 - 5929
DeMark’s: 5866 - 5915

Nifty Future VWAP: 5899.49
MP Values Futures: VAH - 5914, POC - 5902, VAL - 5890

TARGET NIFTY
Buy Nifty Future above 5900 - 5915 - 5940 - 5965 SL - 5891
Sell Nifty Future below 5878 - 5869 - 5850 - 5820 SL - 5899

BANKNIFTY TECHNICAL

Current Spot: 11879.00
Pivot: 11906
5DEMA: 11799
10DEMA: 11737
20DEMA: 11593
50DEMA: 11277
RSI (15 days): 61.84
Parabolic SAR: 11482
Supports: 11834 - 11788
Resistance: 11951 - 12024
DeMark’s: 11870 - 11987

Bank Nifty Future VWAP: 11961.70
MP Values Bank Nifty Futures: VAH - 11992, POC - 11958, VAL - 11924

TARGET BANKNIFTY
Buy BankNifty Future above 11955 - 11995 - 12070 - 12130 SL - 11939
Sell BankNifty Future below 11905 - 11875 - 11820 - 11740 SL - 11954

INTRADAY TRADE
Reliance Industries: Buy above 1017 for targets of 1019, 1024, 1032 SL 1009
Reliance Industries: Sell below 1005 for targets of 1003, 999, 990 SL 1014
BlueDart: Buy above 1500 for targets of 1520, 1555 SL 1475
ThomasCook: Buy above 61.8 for targets of 63, 65 SL 60

SCORE SHEET
Alkali: Buy above 67.5 for targets of 69, 71 SL 63.5: Target 71.00 achieved
SesaGoa: Buy above 324 for targets of 327, 332 SL 318: Target 328.60 achieved

POSITIONAL TRADE
Ster: Buy above 187 for target of 197 SL 184 (One Week)
3iInfotech: Buy above 48.5 for target of 54 SL 47 (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