Market outlook for 31/10/2014

Nifty closed up 78.75 points (0.97%) at 8169.20 while Future closed at 8198.20, premium of 29.00 points.
Bank Nifty closed up 126.00 points (0.76%) at 16760.05 while Future closed at 16829.50, premium of 69.45 points.

• FII bought in Cash (Net buy 1257.49 Crore)
• FII bought in index future, index option and in stock future (Net buy 5770.35 Crore)
• DII sold in Cash (Net sell 94.01 Crore)
• Most Active Nifty Call Option: 8200 and 8300.
• Most Active Nifty Put Options: 8100 and 8000.
• Advance Decline for the day was 833:691.
• McClellan's oscillator for NSE at +33.

NIFTY TECHNICAL

Current Spot: 8169.20
Pivot: 8145
5DEMA: 8069
10DEMA: 8011
20DEMA: 7977
50DEMA: 7944
RSI (14 days): 64.29
Parabolic SAR: 7815
Supports: 8109 - 8049 - 8013
Resistance: 8205 - 8242 - 8302

Nifty Future VWAP: 8187.27
Nifty Future VIX Range: 8121 - 8253
MP Values Nifty Future: VAH - 8209, POC - 8192, VAL - 8175

TARGET NIFTY
Buy Nifty Future above 8205 - 8230 - 8265 - 8305 SL - 8168
Sell Nifty Future below 8160 - 8135 - 8100 - 8060 SL - 8192

BANKNIFTY TECHNICAL

Current Spot: 16760.05
Pivot: 16699
5DEMA: 16604
10DEMA: 16399
20DEMA: 16158
50DEMA: 15899
RSI (14 days): 67.38
Parabolic SAR: 16034
Supports: 16622 - 16484 - 16407
Resistance: 16837 - 16914 - 17052

Bank Nifty Future VWAP: 16781.16
Bank Nifty Future VIX Range: 16606 - 17031
MP Values Bank Nifty Future: VAH - 16848, POC - 16801, VAL - 16754

TARGET BANKNIFTY
Buy BankNifty Future above 16848 - 16895 - 16970 - 17080 SL - 16780
Sell BankNifty Future below 16764 - 16725 - 16615 - 16535 SL - 16802

INTRADAY TRADE
Yesbank: Buy above 665 for targets of 671, 680 SL 655
Reliance: Buy above 983 for targets of 989, 1001 SL 969

SCORE SHEET
TataSteel: Buy above 473 for targets of 477, 484 SL 467: Target 477.45 done
Hindalco: Buy above 157.5 for targets of 159, 163 SL 155: Target 162.00 done

POSITIONAL TRADE
Bharatforg: Buy above 805 for target of 840 SL 787 (2-3 Days)
Orbitcorp: Buy above 17.1 for target of 19.2 SL 16.1 (1 Week)

Thanks and Regards

MarketPulse S&P