Wednesday, May 23, 2012

Market outlook for 24/05/2012

Nifty closed down 24.85 points (0.51%) at 4835.65 while Nifty Future closed at 4814.55, discount of 21.10 points.
Bank Nifty closed down 58.90 points (0.64%) at 9209.90 while Future closed at 9134.80, discount of 75.10 points.
  • FII sold in Cash (Net sell 361.07 Crore)
  • FII bought in index option, stock future but sold in index future (Net buy 164.12 Crore)
  • DII bought in Cash (Net buy 168.49 Crore)
  • Most Active Nifty Call Option: 4800 and 4900.
  • Most Active Nifty Put Options: 4800 and 4700.
  • Advance Decline for the day was 486:928.
NIFTY TECHNICAL
Current Spot: 4835.65
Pivot: 4831
5DEMA: 4871
10DEMA: 4912
20DEMA: 4993
50DEMA: 5136
RSI (14 days): 29.17
Parabolic SAR: 4792
Supports: 4808 - 4781 - 4759
Resistance: 4858 - 4881 - 4908
CAM Support: 4831 - 4827 - 4822 - 4808
CAM Resistance: 4840 - 4845 - 4849 - 4863
NF VIX Range: 4764 - 4865
Nifty Future VWAP: 4810.49
MP Values Nifty Future: VAH - 4828, POC - 4815, VAL - 4802

TARGET NIFTY
Buy Nifty Future above 4818 - 4838 - 4860 - 4895 SL - 4805
Sell Nifty Future below 4804 - 4788 - 4760 - 4735 SL - 4816

BANKNIFTY TECHNICAL
Current Spot: 9209.90
Pivot: 9221
5DEMA: 9274
10DEMA: 9360
20DEMA: 9570
50DEMA: 9934
RSI (14 days): 33.15
Parabolic SAR: 9026
Supports: 9146 - 9082 - 9008
Resistance: 9285 - 9359 - 9423
CAM Support: 9197 - 9185 - 9172 - 9134
CAM Resistance: 9223 - 9235 - 9248 - 9286
Bank Nifty VIX Range: 8995 - 9274
Bank Nifty Future VWAP: 9136.67
MP Values Bank Nifty Future: VAH - 9175, POC - 9140, VAL - 9105

TARGET BANKNIFTY
Buy BankNifty Future above 9150 - 9205 - 9285 - 9350 SL - 9129
Sell BankNifty Future below 9121 - 9070 - 9000 - 8920 SL - 9147

INTRADAY TRADE
Reliance Industries: Buy above 689 for targets of 691, 695, 702 SL 684
Reliance Industries: Sell below 683 for targets of 681, 677, 670 SL 687
Gail: Buy above 327 for targets of 330, 336 SL 322
JetAirways: Buy above 324 for targets of 328, 335 SL 317

SCORE SHEET
Wockpharma: Buy above 725 for targets of 735, 753 SL 711: Target 824.40 done
Appaper: Buy above 241 for targets of 244, 252 SL 237: Target 249.30 done

POSITIONAL TRADE
Wockpharma: Buy above 815 for target of 870 SL 783 (2-3 Days)
Indiacem: Buy above 74.5 for target of 81 SL 73 (1 Week)

Thanks and Regards

S&P Wealth Creators

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