Market outlook for 31/05/2012

Nifty closed down 39.35 points (0.79%) at 4950.75 while Nifty Future closed at 4933.05, discount of 17.70 points.
Bank Nifty closed down 174.05 points (1.79%) at 9534.05 while Future closed at 9470.75, discount of 63.30 points.

• FII sold small in Cash (Net sell 10.74 Crore)
• FII bought in index option, stock future but sold in index future (Net buy 1088.53 Crore)
• DII sold in Cash (Net sell 182.61 Crore)
• Most Active Nifty Call Option: 4900 and 5000.
• Most Active Nifty Put Options: 4900 and 4800.
• Advance Decline for the day was 396:1036.

NIFTY TECHNICAL

Current Spot: 4950.75
Pivot: 4959
5DEMA: 4949
10DEMA: 4941
20DEMA: 4978
50DEMA: 5093
RSI (14 days): 43.85
Parabolic SAR: 4845
Supports: 4936 - 4922 - 4899
Resistance: 4974 - 4997 - 5011
CAM Support: 4947 - 4944 - 4940 - 4930
CAM Resistance: 4954 - 4958 - 4961 - 4971
NF VIX Range: 4881 - 4985

Nifty Future VWAP: 4943.03
MP Values Nifty Future: VAH - 4954, POC - 4945, VAL - 4936

TARGET NIFTY
Buy Nifty Future above 4945 - 5060 - 5075 - 5090 SL - 4937
Sell Nifty Future below 4926 - 4915 - 4900 - 4883 SL - 4944

BANKNIFTY TECHNICAL

Current Spot: 9534.05
Pivot: 9564
5DEMA: 9549
10DEMA: 9500
20DEMA: 9572
50DEMA: 9838
RSI (14 days): 46.32
Parabolic SAR: 9185
Supports: 9485 - 9436 - 9357
Resistance: 9613 - 9691 - 9741
CAM Support: 9522 - 9511 - 9499 - 9464
CAM Resistance: 9546 - 9558 - 9569 - 9604
Bank Nifty VIX Range: 9318 - 9623

Bank Nifty Future VWAP: 9512.82
MP Values Bank Nifty Future: VAH - 9543, POC - 9517, VAL - 9491

TARGET BANKNIFTY
Buy BankNifty Future above 9510 - 9560 - 9655 - 9725 SL - 9483
Sell BankNifty Future below 9457 - 9415 - 9350 - 9250 SL - 9508

INTRADAY TRADE
Reliance Industries: Buy above 708 for targets of 710, 715, 723 SL 702
Reliance Industries: Sell below 700 for targets of 698, 693, 686 SL 705
Indiabulls: Buy above 234 for targets of 237, 244 SL 231
Dredgecorp: Buy above 255 for targets of 258, 263 SL 251

SCORE SHEET
Pantaloonr: Buy above 159 for targets of 161, 165 SL 155: Call not active
Ajantpharm: Buy above 714 for targets of 721, 734 SL 701: Target 803.80 done

POSITIONAL TRADE
Ambujacem: Buy above 153 for target of 160 SL 149 (2-3 Days)
Skumarsynf: Buy above 32 for target of 35 SL 31 (1 Week)

Thanks and Regards

S&P Wealth Creators