Market outlook for 20/05/11

Nifty closed up 7.50 points (0.14%) at 5428.10 while Nifty Future closed at 5424.80 discount of 3.30 points.
Bank Nifty closed down 40.70 points (0.38%) at 10558.35 while Future closed at 10545.60 discount of 12.75 points.

• FII sold in Cash (Net sell 37.41 Crore)
• FII sold in index option but bought in stock future, index future (Net sell 488.36 Crore)
• DII bought in Cash (Net buy 132.34 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: 5400 and 5500.
• Most Active Nifty May Put Options: 5400 and 5300.
• Advance Decline for the day was 475:927.

NIFTY TECHNICAL

Current Spot: 5428.10
Pivot: 5431
5DEMA: 5457
10DEMA: 5501
20DEMA: 5570
50DEMA: 5611
RSI (15 days): 36.73
Parabolic SAR: 5560
Supports: 5409 - 5389 - 5367
Resistance: 5450 - 5472 - 5491
DeMark’s: 5399 - 5440

Nifty Future VWAP: 5423.08
MP Values Futures: VAH - 5434, POC - 5425, VAL - 5416

TARGET NIFTY
Buy Nifty Future above 5431 - 5447 - 5472 - 5495 SL - 5419
Sell Nifty Future below 5417 - 5405 - 5382 - 5358 SL - 5430

BANKNIFTY TECHNICAL

Current Spot: 10558.35
Pivot: 10586
5DEMA: 10707
10DEMA: 10852
20DEMA: 11045
50DEMA: 11173
RSI (15 days): 34.50
Parabolic SAR: 10990
Supports: 10497 - 10435 - 10347
Resistance: 10647 - 10736 - 10798
DeMark’s: 10466 - 10617

Bank Nifty Future VWAP: 10571.97
MP Values Bank Nifty Futures: VAH - 10607, POC - 10571, VAL - 10535

TARGET BANKNIFTY
Buy BankNifty Future above 10580 - 10625 - 10710 - 10780 SL - 10559
Sell BankNifty Future below 10530 - 10490 - 10425 - 10340 SL - 10577

INTRADAY TRADE
Reliance Industries: Buy above 918 for targets of 921, 928, 938 SL 912
Reliance Industries: Sell below 910 for targets of 907, 900, 891 SL 916
LT: Buy above 1600 for targets of 1615, 1640 SL 1556
Jublfood: Buy above 700 for targets of 706, 718 SL 693

SCORE SHEET
EdServ: Buy above 148 for targets of 150, 154 SL 145: Target 149.25 achieved
BajaFinsv: Buy above 525 for targets of 529, 538 SL 519: Target 528.90 achieved

POSITIONAL TRADE
Ashokley: Buy above 48.5 for target of 53 SL 47 (One Week)
Nagerfert: Buy above 30 for target of 33 SL 29 (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