Market outlook for 18/05/11

Nifty closed down 60.05 points (1.09%) at 5438.95 while Nifty Future closed at 5447.40 premium of 8.45 points.
Bank Nifty closed down 243.50 points (2.23%) at 10668.85 while Future closed at 10661.05 discount of 7.80 points.

• FII sold in Cash (Net sell 487.20 Crore)
• FII bought in stock future but sold in index future, index option (Net buy 4.13 Crore)
• DII sold in Cash (Net sell 570.29 Crore)
• US futures are trading negative.
• Global cues are flat to negative.
• SGX nifty is flat as of now.
• Most Active Nifty May Call Option: 5500 and 5600.
• Most Active Nifty May Put Options: 5500 and 5400.
• Advance Decline for the day was 431:976.

NIFTY TECHNICAL

Current Spot: 5438.95
Pivot: 5461
5DEMA: 5497
10DEMA: 5539
20DEMA: 5603
50DEMA: 5629
RSI (15 days): 36.91
Parabolic SAR: 5611
Supports: 5399 - 5358 - 5296
Resistance: 5502 - 5564 - 5604
DeMark’s: 5378 - 5481

Nifty Future VWAP: 5464.05
MP Values Futures: VAH - 5474, POC - 5438, VAL - 5423

TARGET NIFTY
Buy Nifty Future above 5468 - 5502 - 5560 - 5601 SL - 5459
Sell Nifty Future below 5439 - 5409 - 5368 - 5310 SL - 5467

BANKNIFTY TECHNICAL

Current Spot: 10668.85
Pivot: 10753
5DEMA: 10873
10DEMA: 10987
20DEMA: 11148
50DEMA: 11231
RSI (15 days): 36.37
Parabolic SAR: 11136
Supports: 10533 - 10398 - 10178
Resistance: 10888 - 11108 - 11244
DeMark’s: 10465 - 10820

Bank Nifty Future VWAP: 10737.53
MP Values Bank Nifty Futures: VAH - 10801, POC - 10678, VAL - 10588

TARGET BANKNIFTY
Buy BankNifty Future above 10737 - 10865 - 11074 - 11210 SL - 10709
Sell BankNifty Future below 10645 - 10525 - 10385 - 10180 SL - 10734

INTRADAY TRADE
Reliance Industries: Buy above 933 for targets of 935, 939, 945 SL 926
Reliance Industries: Sell below 918 for targets of 916, 912, 903 SL 931
Hanung: Buy above 193 for targets of 196, 201 SL 190
Dabur: Buy above 104 for targets of 105, 107 SL 103

SCORE SHEET
IRB: Buy above 170 for targets of 171.5, 174 SL 166.5: Target 171.55 achieved
Ajantpharm: Buy above 277 for targets of 280, 287 SL 271: Call not activated

POSITIONAL TRADE
CoalIndia: Buy above 399 for target of 319 SL 390 (One Week)
Maninds: Buy above 130 for target of 145 SL 123 (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