Market outlook for 19/05/11

Nifty closed down 18.35 points (0.34%) at 5420.60 while Nifty Future closed at 5424.05 premium of 3.45 points.
Bank Nifty closed down 69.80 points (0.65%) at 10599.05 while Future closed at 10597.60 discount of 1.45 points.

• FII sold in Cash (Net sell 379.44 Crore)
• FII bought in stock future, index future, index option (Net buy 465.83 Crore)
• DII bought in Cash (Net buy 27.46 Crore)
• US futures are trading positive.
• Global cues are flat to positive.
• SGX nifty is flat as of now.
• Most Active Nifty May Call Option: 5400 and 5500.
• Most Active Nifty May Put Options: 5500 and 5400.
• Advance Decline for the day was 410:1001.

NIFTY TECHNICAL

Current Spot: 5420.60
Pivot: 5427
5DEMA: 5471
10DEMA: 5518
20DEMA: 5585
50DEMA: 5613
RSI (15 days): 36.23
Parabolic SAR: 5585
Supports: 5394 - 5368 - 5335
Resistance: 5454 - 5487 - 5513
DeMark’s: 5381 - 5441

Nifty Future VWAP: 5427.11
MP Values Futures: VAH - 5447, POC - 5431, VAL - 5415

TARGET NIFTY
Buy Nifty Future above 5432 - 5456 - 5492 - 5522 SL - 5424
Sell Nifty Future below 5416 - 5396 - 5368 - 5330 SL - 5431

BANKNIFTY TECHNICAL

Current Spot: 10599.05
Pivot: 10615
5DEMA: 10782
10DEMA: 10917
20DEMA: 11096
50DEMA: 11189
RSI (15 days): 35.32
Parabolic SAR: 11066
Supports: 10535 - 10470 - 10390
Resistance: 10680 - 10760 - 10824
DeMark’s: 10503 - 10647

Bank Nifty Future VWAP: 10599.06
MP Values Bank Nifty Futures: VAH - 10626, POC - 10587, VAL - 10548

TARGET BANKNIFTY
Buy BankNifty Future above 10612 - 10670 - 10740 - 10810 SL - 10589
Sell BankNifty Future below 10582 - 10532 - 10460 - 10380 SL - 10609

INTRADAY TRADE
Reliance Industries: Buy above 913 for targets of 915, 919, 925 SL 906
Reliance Industries: Sell below 898 for targets of 896, 891, 884 SL 910
EdServ: Buy above 148 for targets of 150, 154 SL 145
BajaFinsv: Buy above 525 for targets of 530, 538 SL 519

SCORE SHEET
Hanung: Buy above 193 for targets of 196, 201 SL 190: SL Hit
Dabur: Buy above 104 for targets of 105, 107 SL 103: Target 106.40 achieved

POSITIONAL TRADE
Indiabulls: Buy above 157 for target of 168 SL 153 (One Week)
MundraPort: Buy above 149 for target of 157 SL 146 (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