Market outlook for 24/06/11

Nifty closed up 41.70 points (0.79%) at 5320.00 while Nifty Future closed at 5316.20, discount of 3.80 points.
Bank Nifty closed up 51.25 points (0.49%) at 10526.45 while Future closed at 10541.10, premium of 14.65 points.

• FII bought in Cash (Net buy 229.21 Crore)
• FII bought in index future but sold in index option, stock future (Net buy 18.41 Crore)
• DII bought in Cash (Net buy 241.95 Crore)
• US futures are trading in RED.
• Global cues are flat to Negative.
• SGX nifty is negative 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 561:852.

NIFTY TECHNICAL

Current Spot: 5320.00
Pivot: 5301
5DEMA: 5319
10DEMA: 5364
20DEMA: 5419
50DEMA: 5498
RSI (15 days): 38.34
Parabolic SAR: 5445
Supports: 5271 - 5223 - 5193
Resistance: 5350 - 5379 - 5428
DeMark’s: 5286 - 5365

Nifty Future VWAP: 5306.12
MP Values Futures: VAH - 5330, POC - 5313, VAL - 5296

TARGET NIFTY
Buy Nifty Future above 5320 - 5345 - 5377 - 5419 SL - 5299
Sell Nifty Future below 5297 - 5277 - 5234 - 5203 SL - 5308

BANKNIFTY TECHNICAL

Current Spot: 10526.45
Pivot: 10500
5DEMA: 10525
10DEMA: 10583
20DEMA: 10667
50DEMA: 10854
RSI (15 days): 41.84
Parabolic SAR: 10745
Supports: 10448 - 10369 - 10316
Resistance: 10579 - 10632 - 10711
DeMark’s: 10474 - 10606

Bank Nifty Future VWAP: 10520.80
MP Values Bank Nifty Futures: VAH - 10550, POC - 10524, VAL - 10498

TARGET BANKNIFTY
Buy BankNifty Future above 10549 - 10586 - 10636 - 10709 SL - 10509
Sell BankNifty Future below 10503 - 10474 - 10401 - 10351 SL - 10531

INTRADAY TRADE
Reliance Industries: Buy above 873 for targets of 877, 886, 899 SL 861
Reliance Industries: Sell below 859 for targets of 856, 847, 835 SL 865
Titan: Buy above 230 for targets of 233, 239 SL 222
Lichsgfin: Buy above 223 for targets of 225, 228 SL 219

SCORE SHEET
Orchidchem: Buy above 245 for targets of 248, 254 SL 242: Target 255.50 achieved
Bhusanstl: Buy above 439 for targets of 443, 449 SL 432: Target 446.65 achieved

POSITIONAL TRADE
Indowind: Buy above 24.5 for target of 27 SL 22.8 (One Week)
Autoind: Buy above 147 for target of 160 SL 142 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