Market outlook for 23/06/11

Nifty closed up 2.45 points (0.05%) at 5278.30 while Nifty Future closed at 5283.25, premium of 4.95 points.
Bank Nifty closed up 16.05 points (0.15%) at 10475.20 while Future closed at 10492.05, premium of 16.85 points.

• FII sold in Cash (Net sell 287.40 Crore)
• FII bought in index future, stock future but sold in index option, (Net buy 244.77 Crore)
• DII bought in Cash (Net buy 157.37 Crore)
• US futures are trading flat.
• Global cues are flat.
• 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 418:999.

NIFTY TECHNICAL

Current Spot: 5278.30
Pivot: 5284
5DEMA: 5318
10DEMA: 5374
20DEMA: 5429
50DEMA: 5500
RSI (15 days): 33.62
Parabolic SAR: 5473
Supports: 5257 - 5236 - 5209
Resistance: 5305 - 5332 - 5353
DeMark’s: 5246 - 5294

Nifty Future VWAP: 5290.10
MP Values Futures: VAH - 5299, POC - 5288, VAL - 5277

TARGET NIFTY
Buy Nifty Future above 5292 - 5305 - 5329 - 5349 SL - 5281
Sell Nifty Future below 5275 - 5266 - 5246 - 5222 SL - 5290

BANKNIFTY TECHNICAL

Current Spot: 10475.20
Pivot: 10487
5DEMA: 10524
10DEMA: 10596
20DEMA: 10681
50DEMA: 10852
RSI (15 days): 39.59
Parabolic SAR: 10790
Supports: 10423 - 10371 - 10306
Resistance: 10540 - 10604 - 10656
DeMark’s: 10397 - 10514

Bank Nifty Future VWAP: 10495.60
MP Values Bank Nifty Futures: VAH - 10518, POC - 10483, VAL - 10448

TARGET BANKNIFTY
Buy BankNifty Future above 10507 - 10548 - 10610 - 10664 SL - 10489
Sell BankNifty Future below 10476 - 10443 - 10389 - 10327 SL - 10505

INTRADAY TRADE
Reliance Industries: Buy above 850 for targets of 853, 860, 868 SL 844
Reliance Industries: Sell below 842 for targets of 838, 831, 821 SL 848
Orchidchem: Buy above 245 for targets of 248, 254 SL 242
Bhusanstl: Buy above 439 for targets of 443, 449 SL 432

SCORE SHEET
Advanta: Buy above 285 for targets of 289, 297 SL 274: Target 291.00 achieved
Polaris: Buy above 170.5 for targets of 173, 177 SL 167.5: Target 175.50 achieved

POSITIONAL TRADE
HMT: Buy above 62 for target of 69 SL 60.5 (One Week)
MRPL: Buy above 74 for target of 80 SL 73 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