Market outlook for 16/05/11

Nifty closed up 58.60 points (1.07%) at 5544.75 while Nifty Future closed at 5558.90 premium of 14.15 points.
Bank Nifty closed up 133.50 points (1.23%) at 11020.95 while Future closed at 11032.75 premium of 11.80 points.

• FII sold in Cash (Net sell 161.35 Crore)
• FII bought in index future, stock future and in index option (Net buy 1739.16 Crore)
• DII sold in Cash (Net sell 11.53 Crore)
• US futures are trading negative.
• Global cues are flat to negative.
• SGX nifty is negative as of now.
• Most Active Nifty May Call Option: 5500 and 5600.
• Most Active Nifty May Put Options: 5600 and 5500.
• Advance Decline for the day was 869:527.

NIFTY TECHNICAL

Current Spot: 5544.75
Pivot: 5541
5DEMA: 5539
10DEMA: 5576
20DEMA: 5632
50DEMA: 5634
RSI (15 days): 42.82
Parabolic SAR: 5652
Supports: 5476 - 5408 - 5343
Resistance: 5609 - 5673 - 5742
DeMark’s: 5508 - 5641

Nifty Future VWAP: 5563.42
MP Values Futures: VAH - 5592, POC - 5554, VAL - 5516

TARGET NIFTY
Buy Nifty Future above 5563 - 5610 - 5674 - 5750 SL - 5544
Sell Nifty Future below 5541 - 5478 - 5414 - 5340 SL - 5554

BANKNIFTY TECHNICAL

Current Spot: 11020.95
Pivot: 11013
5DEMA: 11006
10DEMA: 11090
20DEMA: 11228
50DEMA: 11236
RSI (15 days): 43.68
Parabolic SAR: 11251
Supports: 10846 - 10671 - 10504
Resistance: 11188 - 11355 - 11530
DeMark’s: 10930 - 11272

Bank Nifty Future VWAP: 11053.48
MP Values Bank Nifty Futures: VAH - 11146, POC - 11060, VAL - 10974

TARGET BANKNIFTY
Buy BankNifty Future above 11041 - 11214 - 11401 - 11605 SL - 11009
Sell BankNifty Future below 11000 - 10835 - 10634 - 10445 SL - 11022

INTRADAY TRADE
Reliance Industries: Buy above 954 for targets of 956, 960, 971 SL 947
Reliance Industries: Sell below 943 for targets of 941, 935, 928 SL 952
BgrEnergy: Buy above 501 for targets of 505, 514 SL 495
PatelEng: Buy above 153 for targets of 155, 159 SL 151

SCORE SHEET
Hdil: Buy above 154.5 for targets of 155.5, 158 SL 151.5: Target 162.60 achieved
AmtekAuto: Buy above 156.5 for targets of 158, 161 SL 155: Target 164.00 achieved

POSITIONAL TRADE
Uniphos: Buy above 170 for target of 185 SL 166 (One Week)
Arvind: Buy above 74 for target of 80 SL 72 (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