Market outlook for 29/04/11

Nifty closed down 48.45 points (0.83%) at 5785.45 while Nifty Future closed at 5810.40 premium of 24.95 points.
Bank Nifty closed down 95.05 points (0.81%) at 11685.15 while Future closed at 11762.45 premium of 77.65 points.

• FII sold in Cash (Net sell 832.59 Crore)
• FII bought in index future and index option but sold in stock future (Net buy 610.74 Crore)
• DII bought in Cash (Net buy 532.60 Crore)
• US futures are trading flat to positive.
• Global cues are flat.
• SGX nifty is flat as of now.
• Most Active Nifty May Call Option: 5900 and 6000.
• Most Active Nifty May Put Options: 5800 and 5700.
• Advance Decline for the day was 433:966.

NIFTY TECHNICAL

Current Spot: 5785.45
Pivot: 5806
5DEMA: 5827
10DEMA: 5827
20DEMA: 5789
50DEMA: 5675
RSI (15 days): 52.59
Parabolic SAR: 5710
Supports: 5756 - 5727 - 5677
Resistance: 5836 - 5886 - 5915
DeMark’s: 5741 - 5821

Nifty Future VWAP: 5831.03
MP Values Futures: VAH - 5846, POC - 5826, VAL - 5806

TARGET NIFTY
Buy Nifty Future above 5836 - 5857 - 5907 - 5935 SL - 5819
Sell Nifty Future below 5809 - 5785 - 5756 - 5707 SL - 5834

BANKNIFTY TECHNICAL

Current Spot: 11685.15
Pivot: 11733
5DEMA: 11767
10DEMA: 11750
20DEMA: 11639
50DEMA: 11309
RSI (15 days): 55.25
Parabolic SAR: 11511
Supports: 11611 - 11537 - 11415
Resistance: 11807 - 11929 - 12003
DeMark’s: 11574 - 11770

Bank Nifty Future VWAP: 11802.58
MP Values Bank Nifty Futures: VAH - 11838, POC - 11798, VAL - 11758

TARGET BANKNIFTY
Buy BankNifty Future above 11810 - 11884 - 12005 - 12080 SL - 11789
Sell BankNifty Future below 11769 - 11688 - 11614 - 11495 SL - 11807

INTRADAY TRADE
Reliance Industries: Buy above 978 for targets of 982, 988, 1001 SL 970
Reliance Industries: Sell below 967 for targets of 963, 957, 945 SL 976
Kirlosbros: Buy above 205 for targets of 208, 215 SL 199
Raincom: Buy above 185 for targets of 188, 195 SL 179

SCORE SHEET
Lovable: Buy above 342 for targets of 346, 354 SL 331: Target 349.40 achieved
Raymond: Buy above 369 for targets of 374, 380 SL 359: Call not activated

POSITIONAL TRADE
Exide: Buy above 151 for target of 167 SL 144 (One Week)
ONGC: Buy above 318 for target of 330 SL 313 (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