Market outlook for 28/04/11

Nifty closed down 34.50 points (0.59%) at 5833.90 while Nifty April Future closed at 5836.55 premium of 2.65 points.
Bank Nifty closed down 87.85 points (0.74%) at 11779.85 while April Future closed at 11804.75 premium of 24.90 points.

• FII sold in Cash (Net sell 711.86 Crore, 3 days in a row)
• FII sold in index future and stock future but bought in index option (Net sell 326.30 Crore)
• DII bought in Cash (Net buy 299.28 Crore)
• US futures are trading flat.
• Global cues are flat.
• SGX nifty is flat as of now.
• Most Active Nifty April Call Option: 5800 and 5900.
• Most Active Nifty April Put Options: 5900 and 5800.
• Advance Decline for the day was 554:836.

NIFTY TECHNICAL

Current Spot: 5833.90
Pivot: 5849
5DEMA: 5847
10DEMA: 5836
20DEMA: 5789
50DEMA: 5679
RSI (15 days): 54.96
Parabolic SAR: 5706
Supports: 5805 - 5776 - 5733
Resistance: 5878 - 5921 - 5950
DeMark’s: 5791 - 5863

Nifty Future VWAP: 5857.01
MP Values Futures: VAH - 5904, POC - 5874, VAL - 5842

TARGET NIFTY
Buy Nifty Future above 5858 - 5885 - 5936 - 5969 SL - 5841
Sell Nifty Future below 5828 - 5806 - 5779 - 5744 SL - 5857

BANKNIFTY TECHNICAL

Current Spot: 11779.85
Pivot: 11816
5DEMA: 11808
10DEMA: 11764
20DEMA: 11634
50DEMA: 11302
RSI (15 days): 58.46
Parabolic SAR: 11502
Supports: 11696 - 11612 - 11492
Resistance: 11900 - 12020 - 12104
DeMark’s: 11654 - 11858

Bank Nifty Future VWAP: 11838.30
MP Values Bank Nifty Futures: VAH - 11914, POC - 11858, VAL - 11802

TARGET BANKNIFTY
Buy BankNifty Future above 11849 - 11920 - 12045 - 12130 SL - 11824
Sell BankNifty Future below 11787 - 11722 - 11633 - 11515 SL - 11847

INTRADAY TRADE
Reliance Industries: Buy above 997 for targets of 1000, 1008, 1018 SL 989
Reliance Industries: Sell below 985 for targets of 982, 977, 968 SL 994
Lovable: Buy above 342 for targets of 346, 354 SL 331
Raymond: Buy above 369 for targets of 374, 380 SL 359

SCORE SHEET
Apil: Buy above 642 for targets of 649, 658 SL 631: Target 656.70 achieved
UFlex: Buy above 208 for targets of 211, 216 SL 202: Target 209.50 achieved and SL Hit

POSITIONAL TRADE
Amrutanjan: Buy above 757 for target of 833 SL 723 (One Week)
Biocon: Buy above 387 for target of 405 SL 377 (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