Market outlook for 21/01/11

Nifty closed up 20.55 points (0.36%) at 5711.60 while Nifty January Future closed at 5718.25 premium of 6.65 points
Bank Nifty closed up 183.20 points (1.73%) at 10798.35 while January Future closed at 10825.45 premium of 27.10 points.

• FII sold in Cash (Net sell 943.91 Crore)
• FII sold in index future, index option but bought in stock future (Net sell 595.08 Crore)
• DII bought in Cash (Net buy 256.32 Crore)
• US market is trading flat to negative.
• Global cues are flat to negative.
• SGX nifty is in red as of now.
• Most Active Nifty January Call Option: 5700 and 5800.
• Most Active Nifty December Put Options: 5700 and 5600.
• Advance Decline for the day was 666:701

NIFTY TECHNICAL

Current Spot: 5711.60
Pivot: 5692
5DEMA: 5715
10DEMA: 5768
20DEMA: 5843
50DEMA: 5922
RSI (15 days): 39.19
Parabolic SAR: 5925
Supports: 5654 - 5597
Resistance: 5749 - 5787

Nifty Future VWAP: 5685.10
Bank Nifty Future VWAP: 10694.32
MP Values Spot (Price Profile): VAH - 5694, POC - 5668, VAL - 5642
MP Values Futures: VAH - 5714, POC - 5662, VAL - 5634
MP Values Bank Nifty Futures: VAH - 10908, POC - 10792, VAL - 10666

TARGET NIFTY
Buy Nifty Future above 5723 - 5761 - 5807 - 5873 SL - 5695
Sell Nifty Future below 5689 - 5655 - 5589 - 5543 SL - 5701
Buy BankNifty Future above 10834 - 10986 - 11152 - 11399 SL - 10739
Sell BankNifty Future below 10728 - 10584 - 10336 - 10171 SL - 10749

INTRADAY TRADE
Reliance Industries: Buy above 972 for targets of 976, 984, 996 SL 965
Reliance Industries: Sell below 962 for targets of 959, 953, 941 SL 970
Ajantpharm: Buy above 222 for targets of 226, 231 SL 217
IDBI: Buy above 151 for targets of 153, 156 SL 148

SCORE SHEET
Ruchisoya: Buy above 115 for targets of 116, 118 SL 112: Call not activated
Camlin: Buy above 53.5 for targets of 54, 55 SL 52.8: Target 54.45 achieved

POSITIONAL TRADE
KGL: Buy above 21 for target of 23 SL 20.4 (One Week)
Indorama: Buy above 71 for target of 78 SL 67.5 (One Week)

Use strict STOP LOSS in each and every trade in this kind of volatile market and Trade at your own risk.

Thanks and Regards

S&P Wealth Creators