Saturday, January 21, 2012

Market outlook for 23/01/12

Nifty closed up 30.20 points (0.60%) at 5048.60 while Nifty Future closed at 5047.85, discount of 0.75 points.
Bank Nifty closed up 317.45 points (3.45%) at 9516.85 while Future closed at 9490.80, discount of 26.05 points.
  • FII bought huge in Cash (Net buy 819.84 Crore)
  • FII bought in index future, index option and stock future (Net buy 1743.20 Crore)
  • DII sold in Cash (Net sell 614.79 Crore)
  • US market ended flat to positive.
  • Global cues are flat.
  • SGX nifty is flat as of now.
  • Most Active Nifty Call Option: 5000 and 5100.
  • Most Active Nifty Put Options: 5000 and 4900.
  • Advance Decline for the day was 628:811.
NIFTY TECHNICAL
Current Spot: 5048.60
Pivot: 5039
5DEMA: 4980
10DEMA: 4919
20DEMA: 4859
50DEMA: 4864
RSI (14 days): 68.59
Parabolic SAR: 4855
Supports: 5014 - 4979 - 4954
Resistance: 5074 - 5099 - 5134
CAM Support: 5043 - 5038 - 5032 - 5016
CAM Resistance: 5054 - 5060 - 5065 - 5082
NF VIX Range: 4984 - 5112
Nifty Future VWAP: 5037.97
MP Values Nifty Future: VAH - 5048, POC - 5034, VAL - 5020

TARGET NIFTY
Buy Nifty Future above 5052 - 5070 - 5095 - 5130 SL - 5033
Sell Nifty Future below 5032 - 5017 - 4985 - 4960 SL - 5049

BANKNIFTY TECHNICAL
Current Spot: 9516.85
Pivot: 9449
5DEMA: 9197
10DEMA: 9000
20DEMA: 8794
50DEMA: 8793
RSI (14 days): 73.83
Parabolic SAR: 8921
Supports: 9337 - 9157 - 9045
Resistance: 9629 - 9740 - 9920
CAM Support: 9490 - 9463 - 9437 - 9356
CAM Resistance: 9544 - 9570 - 9597 - 9677
Bank Nifty VIX Range: 9310 - 9672
Bank Nifty Future VWAP: 9405.40
MP Values Bank Nifty Future: VAH - 9471, POC - 9395, VAL - 9319

TARGET BANKNIFTY
Buy BankNifty Future above 9498 - 9598 - 9700 - 9860 SL - 9422
Sell BankNifty Future below 9413 - 9320 - 9150 - 9040 SL - 9462

INTRADAY TRADE
Reliance Industries: Buy above 795 for targets of 799, 805, 817 SL 786
Reliance Industries: Sell below 784 for targets of 780, 774, 762 SL 790
Exideind: Buy above 126 for targets of 128, 132 SL 121
Titan: Buy above 193 for targets of 195, 199 SL 189

SCORE SHEET
Biocon: Buy above 277 for targets of 280, 286 SL 270: Call not active
RelInfra: Buy above 490 for targets of 497, 510 SL 478: Target 496.00 achieved

POSITIONAL TRADE
KotakBank: Buy above 496 for target of 515 SL 487 (2-3 Days)
BankIndia: Buy above 320 for target of 338 SL 316 (1 Week)

Thanks and Regards

S&P Wealth Creators

3 comments:

  1. hello
    what is VAH, VWAP & MP values? thanks.

    ReplyDelete
    Replies
    1. My simple understanding of Market Profile is:

      VAL: Value Low - trading below it downward pressure similar to "Low ema".
      POC: Power of control - Having moved above VAL, it needs to move above this point to have some control over uptrend similar to "Close ema".
      VAH: Value High - Having captured POC, it needs to stay above this to assert itself of the uptrend and move higher to create new values similar to "High ema".

      When Nifty is below VAL: Stay short & if far away from it and at a support zone, cover.

      When Nifty is between VAL & VAH, Trade as in a sideways market.

      When Nifty is above VAH, stay long and book out at earlier resistances or target areas.

      There are VAH, POC, VAL for various time cycles. Have them in your trading plan to play it better.

      Delete

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