Market outlook for 24/07/2014

Nifty closed up 27.90 points (0.36%) at 7795.75 while Future closed at 7791.55, discount of 4.20 points.
Bank Nifty closed up 35.65 points (0.23%) at 15463.00 while Future closed at 15494.60, premium of 31.60 points.

• FII bought in Cash (Net buy 652.40 Crore)
• FII bought in index future, stock future and in index option (Net buy 677.19 Crore)
• DII sold in Cash (Net sell 292.09 Crore)
• Most Active Nifty Call Option: 7800 and 7900.
• Most Active Nifty Put Options: 7800 and 7700.
• Advance Decline for the day was 581:956.
• McClellan's oscillator for NSE at -21.

NIFTY TECHNICAL

Current Spot: 7795.75
Pivot: 7786
5DEMA: 7719
10DEMA: 7672
20DEMA: 7628
50DEMA: 7478
RSI (14 days): 65.30
Parabolic SAR: 7464
Supports: 7763 - 7730 - 7706
Resistance: 7819 - 7842 - 7875

Nifty Future VIX Range: 7723 - 7856
Nifty Future VWAP: 7782.90
MP Values Nifty Future: VAH - 7796, POC - 7780, VAL - 7764

TARGET NIFTY
Buy Nifty Future above 7796 - 7813 - 7835 - 7870 SL - 7778
Sell Nifty Future below 7773 - 7760 - 7730 - 7700 SL - 7785

BANKNIFTY TECHNICAL

Current Spot: 15463.00
Pivot: 15496
5DEMA: 15355
10DEMA: 15248
20DEMA: 15181
50DEMA: 14913
RSI (14 days): 58.88
Parabolic SAR: 14643
Supports: 15366 - 15268 - 15137
Resistance: 15594 - 15724 - 15822

Bank Nifty Future VIX Range: 15303 - 15719
Bank Nifty Future VWAP: 15528.32
MP Values Bank Nifty Future: VAH - 15571, POC - 15494, VAL - 15417

TARGET BANKNIFTY
Buy BankNifty Future above 15532 - 15620 - 15750 - 15880 SL - 15494
Sell BankNifty Future below 15471 - 15390 - 15275 - 15135 SL - 15529

INTRADAY TRADE
BankBaroda: Buy above 858 for targets of 863, 874 SL 851
HindPetro: Buy above 396 for targets of 400, 406 SL 392

SCORE SHEET
Bhartiartl: Buy above 356 for targets of 359, 366 SL 350: SL Hit
Pfc: Buy above 277 for targets of 280, 284 SL 274: Call not Active

POSITIONAL TRADE
Recltd: Buy above 322 for target of 332 SL 319 (2-3 Days)
Viceroy: Buy above 22.0 for target of 23.6 SL 21.4 (1 Week)

Thanks and Regards

MarketPulse S&P