Market outlook for 21/01/2014

Nifty closed up 42.30 points (0.68%) at 6303.95 while Nifty Future closed at 6320.15, premium of 16.20 points.
Bank Nifty closed up 96.15 points (0.88%) at 11007.50 while Future closed at 11037.20, premium of 29.70 points.

• FII bought in Cash (Net buy 384.89 Crore)
• FII sold in index future, index option but bought in stock future (Net sell 385.91 Crore)
• DII sold in Cash (Net sell 310.47 Crore)
• Most Active Nifty Call Option: 6300 and 6400.
• Most Active Nifty Put Options: 6300 and 6200.
• Advance Decline for the day was 783:657.
• McClellan's oscillator for NSE at -36.

NIFTY TECHNICAL

Current Spot: 6303.95
Pivot: 6285
5DEMA: 6282
10DEMA: 6264
20DEMA: 6248
50DEMA: 6224
RSI (14 days): 56.50
Parabolic SAR: 6148
Supports: 6262 - 6221 - 6198
Resistance: 6326 - 6349 - 6391

Nifty Future VIX Range: 6260 - 6376
Nifty Future VWAP: 6297.13
MP Values Nifty Future: VAH - 6317, POC - 6295, VAL - 6273

TARGET NIFTY
Buy Nifty Future above 6325 - 6345 - 6375 - 6425 SL - 6294
Sell Nifty Future below 6292 - 6273 - 6240 - 6190 SL - 6317

BANKNIFTY TECHNICAL

Current Spot: 11007.50
Pivot: 10969
5DEMA: 11005
10DEMA: 11036
20DEMA: 11109
50DEMA: 11142
RSI (14 days): 45.90
Parabolic SAR: 10827
Supports: 10915 - 10823 - 10769
Resistance: 11061 - 11115 - 11207

Bank Nifty Future VIX Range: 10884 - 11206
Bank Nifty Future VWAP: 10992.86
MP Values Bank Nifty Future: VAH - 11037, POC - 10996, VAL - 10955

TARGET BANKNIFTY
Buy BankNifty Future above 11045 - 11095 - 11165 - 11265 SL - 10982
Sell BankNifty Future below 10973 - 10930 - 10830 - 10760 SL - 10997

INTRADAY TRADE
Reliance: Buy above 879 for targets of 883, 894 SL 873
Reliance: Sell below 865 for targets of 861, 854 SL 877
Niittech: Buy above 415 for targets of 419, 429 SL 408
Granules: Buy above 207 for targets of 210, 215 SL 204

SCORE SHEET
Rcom: Buy above 125.5 for targets of 127, 129 SL 124: Target 133.90 done
Bhel: Buy above 172 for targets of 174, 177 SL 170: Target 174.40 done

POSITIONAL TRADE
TataElxsi: Buy above 382 for target of 400 SL 369 (2-3 Days)
Mercator: Buy above 19.7 for target of 21.5 SL 19.1 (1 Week)

Thanks and Regards

MarketPulse S&P