Market outlook for 21/06/11

Nifty closed down 108.50 points (2.02%) at 5257.90 while Nifty Future closed at 5260.05, premium of 2.15 points.
Bank Nifty closed down 113.95 points (1.08%) at 10484.30 while Future closed at 10502.40, premium of 18.10 points.

• FII sold in Cash (Net sell 512.57 Crore)
• FII bought in index future, stock future but sold in index option, (Net buy 82.37 Crore)
• DII bought in Cash (Net buy 863.31 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: 5300 and 5200.
• Advance Decline for the day was 143:1307.

NIFTY TECHNICAL

Current Spot: 5257.90
Pivot: 5277
5DEMA: 5370
10DEMA: 5421
20DEMA: 5463
50DEMA: 5514
RSI (15 days): 31.38
Parabolic SAR: 5538
Supports: 5177 - 5096 - 4995
Resistance: 5358 - 5459 - 5540
DeMark’s: 5136 - 5318

Nifty Future VWAP: 5276.76
MP Values Futures: VAH - 5316, POC - 5267, VAL - 5218

TARGET NIFTY
Buy Nifty Future above 5278 - 5363 - 5468 - 5560 SL - 5269
Sell Nifty Future below 5252 - 5171 - 5080 - 4974 SL - 5277

BANKNIFTY TECHNICAL

Current Spot: 10484.30
Pivot: 10481
5DEMA: 10594
10DEMA: 10659
20DEMA: 10729
50DEMA: 10880
RSI (15 days): 39.52
Parabolic SAR: 10896
Supports: 10344 - 10203 - 10066
Resistance: 10622 - 10759 - 10900
DeMark’s: 10273 - 10551

Bank Nifty Future VWAP: 10520.00
MP Values Bank Nifty Futures: VAH - 10581, POC - 10497, VAL - 10413

TARGET BANKNIFTY
Buy BankNifty Future above 10510 - 10638 - 10778 - 10932 SL - 10484
Sell BankNifty Future below 10474 - 10354 - 10201 - 10060 SL - 10499

INTRADAY TRADE
Reliance Industries: Buy above 850 for targets of 854, 861, 870 SL 843
Reliance Industries: Sell below 836 for targets of 832, 826, 818 SL 848
Hindalco: Buy above 170 for targets of 172, 175 SL 166.5
YesBank: Buy above 292 for targets of 296, 302 SL 285

SCORE SHEET
Hindpetro: Buy above 383 for targets of 387, 392 SL 379: SL Hit
Timken: Buy above 239 for targets of 242, 247 SL 234: Target 245.40 achieved

POSITIONAL TRADE
SunTv: Buy above 345 for target of 373 SL 336 (One Week)
Idea: Buy above 80 for target of 88 SL 78 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