Market outlook for 26/05/11

Nifty closed down 45.90 points (0.85%) at 5348.95 while Nifty Future closed at 5349.45 premium of 0.50 points.
Bank Nifty closed down 69.75 points (0.67%) at 10355.80 while Future closed at 10364.65 premium of 8.85 points.

• FII sold in Cash (Net buy 370.79 Crore)
• FII bought in index option, stock future but sold index future (Net buy 580.01 Crore)
• DII bought in Cash (Net buy 179.41 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: 5300 and 5400.
• Most Active Nifty May Put Options: 5400 and 5300.
• Advance Decline for the day was 476:923.

NIFTY TECHNICAL

Current Spot: 5348.95
Pivot: 5356
5DEMA: 5400
10DEMA: 5442
20DEMA: 5513
50DEMA: 5562
RSI (15 days): 35.40
Parabolic SAR: 5464
Supports: 5322 - 5295 - 5262
Resistance: 5382 - 5416 - 5443
DeMark’s: 5309 - 5369

Nifty Future VWAP: 5350.44
MP Values Futures: VAH - 5361, POC - 5348, VAL - 5335

TARGET NIFTY
Buy Nifty Future above 5355 - 5371 - 5394 - 5417 SL - 5344
Sell Nifty Future below 5341 - 5330 - 5307 - 5284 SL - 5354

BANKNIFTY TECHNICAL

Current Spot: 10355.80
Pivot: 10375
5DEMA: 10473
10DEMA: 10621
20DEMA: 10845
50DEMA: 11016
RSI (15 days): 33.93
Parabolic SAR: 10665
Supports: 10322 - 10287 - 10234
Resistance: 10409 - 10463 - 10497
DeMark’s: 10304 - 10392

Bank Nifty Future VWAP: 10390.64
MP Values Bank Nifty Futures: VAH - 10413, POC - 10395, VAL - 10377

TARGET BANKNIFTY
Buy BankNifty Future above 10392 - 10414 - 10465 - 10505 SL - 10379
Sell BankNifty Future below 10349 - 10335 - 10301 - 10245 SL - 10390

INTRADAY TRADE
Reliance Industries: Buy above 912 for targets of 914, 918, 924 SL 905
Reliance Industries: Sell below 901 for targets of 900, 896, 889 SL 909
Vipind: Buy above 666 for targets of 671, 680 SL 653
Mphasis: Buy above 460 for targets of 464, 471 SL 453

SCORE SHEET
Hdil: Buy above 156 for targets of 158, 161 SL 152: Target 158.70 achieved
Bomdyeing: Buy above 349 for targets of 352, 359 SL 345 Target 352.70 achieved

POSITIONAL TRADE
VGuard: Buy above 208 for target of 224 SL 201 (One Week)
Sanghvifor: Buy above 125 for target of 142 SL 113 (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