Market outlook for 24/10/11

Nifty closed down 41.95 points (0.82%) at 5049.95 while Nifty Future closed at 5054.00, premium of 4.05 points.
Bank Nifty closed down 51.05 points (0.52%) at 9695.35 while Future closed at 9687.05, discount of 8.30 points.

• FII sold in Cash (Net sell 234.01 Crore)
• FII bought in index option and index future but sold in stock future (Net buy 1444.57 Crore)
• DII bought in Cash (Net buy 73.36 Crore)
• US futures ended in Green.
• Global cues are flat to positive.
• SGX nifty is positive as of now.
• Most Active Nifty Call Option: 5100 and 5200.
• Most Active Nifty Put Options: 5100 and 5000.
• Advance Decline for the day was 498:932.

NIFTY TECHNICAL

Current Spot: 5049.95
Pivot: 5070
5DEMA: 5076
10DEMA: 5054
20DEMA: 5026
50DEMA: 5078
RSI (14 days): 51.14
Parabolic SAR: 4967
Supports: 5018 - 4987 - 4936
Resistance: 5101 -5152 - 5184
CAM Support: 5042 - 5035 - 5027 - 5004
CAM Resistance: 5058 - 5065 - 5073 - 5095
NF VIX Range: 4974 - 5134

Nifty Future VWAP: 5092.66
MP Values Nifty Future: VAH - 5114, POC - 5086, VAL - 5058

TARGET NIFTY
Buy Nifty Future above 5078 - 5108 - 5165 - 5201 SL - 5060
Sell Nifty Future below 5046 - 5020 - 4984 - 4930 SL - 5077

BANKNIFTY TECHNICAL

Current Spot: 9695.35
Pivot: 9728
5DEMA: 9688
10DEMA: 9596
20DEMA: 9535
50DEMA: 9737
RSI (14 days): 53.31
Parabolic SAR: 9210
Supports: 9645 - 9595 - 9512
Resistance: 9778 - 9861 - 9911
CAM Support: 9683 - 9671 - 9659 - 9622
CAM Resistance: 9708 - 9720 - 9732 - 9768
Bank Nifty VIX Range: 9496 - 9878

Bank Nifty Future VWAP: 9749.19
MP Values Bank Nifty Future: VAH - 9790, POC - 9746, VAL - 9702

TARGET BANKNIFTY
Buy BankNifty Future above 9733 - 9780 - 9880 - 9940 SL - 9702
Sell BankNifty Future below 9673 - 9630 - 9570 - 9470 SL - 9731

INTRADAY TRADE
Reliance Industries: Buy above 843 for targets of 847, 853, 863 SL 837
Reliance Industries: Sell below 832 for targets of 828, 823, 813 SL 841
UFlex: Buy above 169 for targets of 173, 178 SL 163
Jpinfratec: Buy above 64.5 for targets of 65.5, 67 SL 62.9

SCORE SHEET
Bomdyeing: Buy above 413 for targets of 416, 422 SL 406: Target 417.00 achieved
Raymond: Buy above 360 for targets of 365, 374 SL 354: Target 392.45 achieved

POSITIONAL TRADE
Raymond: Buy above 388 for target of 410 SL 378 (2-3 Days)
Geodesic: Buy above 61.8 for target of 65 SL 60.8 (1 Week)

This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.

Thanks and Regards

S&P Wealth Creators