Market outlook for 22/06/11

Nifty closed up 17.95 points (0.34%) at 5275.85 while Nifty Future closed at 5277.85, premium of 2.00 points.
Bank Nifty closed down 25.15 points (0.24%) at 10459.15 while Future closed at 10474.20, premium of 15.05 points.

• FII sold in Cash (Net sell 563.36 Crore)
• FII bought in index future, stock future and index option, (Net buy 1083.28 Crore)
• DII bought in Cash (Net buy 430.41 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: 5300 and 5200.
• Advance Decline for the day was 575:829.

NIFTY TECHNICAL

Current Spot: 5274.75
Pivot: 5285
5DEMA: 5338
10DEMA: 5395
20DEMA: 5445
50DEMA: 5505
RSI (15 days): 33.41
Parabolic SAR: 5503
Supports: 5248 - 5220 - 5182
Resistance: 5313 - 5351 - 5379
DeMark’s: 5234 - 5299

Nifty Future VWAP: 5293.12
MP Values Futures: VAH - 5327, POC - 5302, VAL - 5277

TARGET NIFTY
Buy Nifty Future above 5306 - 5345 - 5415 - 5460 SL - 5295
Sell Nifty Future below 5270 - 5235 - 5189 - 5119 SL - 5304

BANKNIFTY TECHNICAL

Current Spot: 10459.15
Pivot: 10510
5DEMA: 10549
10DEMA: 10622
20DEMA: 10703
50DEMA: 10864
RSI (15 days): 38.80
Parabolic SAR: 10840
Supports: 10376 - 10292 - 10157
Resistance: 10594 - 10729 - 10812
DeMark’s: 10334 - 10552

Bank Nifty Future VWAP: 10567.42
MP Values Bank Nifty Futures: VAH - 10638, POC - 10567, VAL - 10496

TARGET BANKNIFTY
Buy BankNifty Future above 10541 - 10616 - 10762 - 10850 SL - 10528
Sell BankNifty Future below 10458 - 10392 - 10304 - 10158 SL - 10538

INTRADAY TRADE
Reliance Industries: Buy above 851 for targets of 854, 859, 867 SL 845
Reliance Industries: Sell below 843 for targets of 841, 837, 831 SL 849
Advanta: Buy above 285 for targets of 289, 297 SL 274
Polaris: Buy above 170.5 for targets of 173, 177 SL 167.5

SCORE SHEET
Hindalco: Buy above 170 for targets of 172, 175 SL 166.5: Target 172.95 achieved
YesBank: Buy above 292 for targets of 296, 302 SL 285: Target 295.00 achieved

POSITIONAL TRADE
Jisjaleqs: Buy above 143 for target of 155 SL 140 (One Week)
Ibrealest: Buy above 107 for target of 117 SL 103 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