Market outlook for 17/06/11

Nifty closed down 50.75 points (0.93%) at 5396.75 while Nifty Future closed at 5402.40, premium of 5.65 points.
Bank Nifty closed down 54.50 points (0.51%) at 10572.15 while Future closed at 10591.10, premium of 18.95 points.

• FII sold in Cash (Net sell 599.52 Crore)
• FII bought in index option but sold in index future, stock future (Net buy 221.59 Crore)
• DII bought in Cash (Net buy 286.10 Crore)
• US futures are trading in Green.
• 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: 5400 and 5300.
• Advance Decline for the day was 415:985.

NIFTY TECHNICAL

Current Spot: 5396.75
Pivot: 5411
5DEMA: 5455
10DEMA: 5478
20DEMA: 5497
50DEMA: 5543
RSI (15 days): 39.23
Parabolic SAR: 5581
Supports: 5375 - 5354 - 5318
Resistance: 5433 - 5469 - 5491
DeMark’s: 5364 - 5422

Nifty Future VWAP: 5421.63
MP Values Futures: VAH - 5436, POC - 5420, VAL - 5404

TARGET NIFTY
Buy Nifty Future above 5422 - 5441 - 5472 - 5508 SL - 5409
Sell Nifty Future below 5394 - 5380 - 5354 - 5315 SL - 5421

BANKNIFTY TECHNICAL

Current Spot: 10572.15
Pivot: 10594
5DEMA: 10674
10DEMA: 10719
20DEMA: 10771
50DEMA: 10928
RSI (15 days): 41.24
Parabolic SAR: 10983
Supports: 10481 - 10390 - 10277
Resistance: 10685 - 10797 - 10888
DeMark’s: 10538 - 10741

Bank Nifty Future VWAP: 10625.98
MP Values Bank Nifty Futures: VAH - 10676, POC - 10627, VAL - 10578

TARGET BANKNIFTY
Buy BankNifty Future above 10630 - 10705 - 10820 - 10910 SL - 10609
Sell BankNifty Future below 10575 - 10510 - 10420 - 10305 SL - 10628

INTRADAY TRADE
Reliance Industries: Buy above 895 for targets of 897, 904, 912 SL 889
Reliance Industries: Sell below 884 for targets of 882, 877, 869 SL 893
Lovable: Buy above 455 for targets of 461, 473 SL 444
CenturyTex: Buy above 361 for targets of 366, 375 SL 349

SCORE SHEET
Godrejind: Buy above 198 for targets of 199.5, 203 SL 194: Target 200.50 achieved
Insecticid: Buy above 348 for targets of 352, 358 SL 343: Target 351.00 achieved

POSITIONAL TRADE
Punjlloyd: Buy above 70 for target of 77 SL 68 (One Week)
Apollotyre: Buy above 76.2 for target of 85 SL 74 (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