Market outlook for 23/05/11

Nifty closed up 58.25 points (1.07%) at 5486.35 while Nifty Future closed at 5484.60 discount of 1.75 points.
Bank Nifty closed up 105.75 points (1.00%) at 10664.10 while Future closed at 10666.25 premium of 2.15 points.

• FII sold in Cash (Net sell 181.55 Crore)
• FII bought in index option, stock future, index future (Net buy 868.23 Crore)
• DII bought in Cash (Net buy 398.19 Crore)
• US futures are trading negative.
• Global cues are flat.
• 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 840:562.

NIFTY TECHNICAL

Current Spot: 5486.35
Pivot: 5479
5DEMA: 5467
10DEMA: 5499
20DEMA: 5562
50DEMA: 5606
RSI (15 days): 41.94
Parabolic SAR: 5537
Supports: 5440 - 5394 - 5355
Resistance: 5525 - 5564 - 5610
DeMark’s: 5460 - 5544

Nifty Future VWAP: 5482.48
MP Values Futures: VAH - 5508, POC - 5485, VAL - 5462

TARGET NIFTY
Buy Nifty Future above 5489 - 5526 - 5569 - 5619 SL - 5474
Sell Nifty Future below 5470 - 5438 - 5388 - 5344 SL - 5484

BANKNIFTY TECHNICAL

Current Spot: 10664.10
Pivot: 10644
5DEMA: 10693
10DEMA: 10817
20DEMA: 11008
50DEMA: 11154
RSI (15 days): 38.03
Parabolic SAR: 10916
Supports: 10561 - 10458 - 10375
Resistance: 10747 - 10830 - 10934
DeMark’s: 10602 - 10789

Bank Nifty Future VWAP: 10665.23
MP Values Bank Nifty Futures: VAH - 10709, POC - 10651, VAL - 10593

TARGET BANKNIFTY
Buy BankNifty Future above 10674 - 10755 - 10848 - 10957 SL - 10639
Sell BankNifty Future below 10635 - 10562 - 10453 - 10360 SL - 10656

INTRADAY TRADE
Reliance Industries: Buy above 926 for targets of 928, 933, 942 SL 917
Reliance Industries: Sell below 915 for targets of 913, 908, 901 SL 922
Hdfc: Buy above 661 for targets of 665, 674 SL 652
Idfc: Buy above 138 for targets of 140, 143 SL 136

SCORE SHEET
LT: Buy above 1600 for targets of 1615, 1640 SL 1556: Target 1670.00 achieved
Jublfood: Buy above 700 for targets of 706, 718 SL 693: Target 719.80 achieved

POSITIONAL TRADE
TataCoffee: Buy above 825 for target of 875 SL 812 (One Week)
Shalpaints: Buy above 522 for target of 555 SL 503 (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