Market outlook for 24/01/11

Nifty closed down 15.10 points (0.26%) at 5696.50 while Nifty January Future closed at 5700.60 premium of 4.10 points
Bank Nifty closed up 91.05 points (0.84%) at 10889.40 while January Future closed at 10896.85 premium of 7.45 points.

• FII sold in Cash (Net sell 368.00 Crore)
• FII sold in index future, index option but bought in stock future (Net sell 726.42 Crore)
• DII bought in Cash (Net buy 223.14 Crore)
• US market ended flat to positive.
• Global cues are flat.
• SGX nifty is flat 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 732:646

NIFTY TECHNICAL

Current Spot: 5696.50
Pivot: 5696
5DEMA: 5709
10DEMA: 5755
20DEMA: 5830
50DEMA: 5922
RSI (15 days): 38.17
Parabolic SAR: 5895
Supports: 5675 - 5653
Resistance: 5718 - 5739

Nifty Future VWAP: 5696.21
Bank Nifty Future VWAP: 10855.49
MP Values Spot (Price Profile): VAH - 5712, POC - 5702, VAL - 5692
MP Values Futures: VAH - 5708, POC - 5696, VAL - 5684
MP Values Bank Nifty Futures: VAH - 10922, POC - 10874, VAL - 10826

TARGET NIFTY
Buy Nifty Future above 5705 - 5721 - 5744 - 5774 SL - 5692
Sell Nifty Future below 5686 - 5674 - 5645 - 5621 SL - 5697
Buy BankNifty Future above 10905 - 10962 - 11033 - 11141 SL - 10854
Sell BankNifty Future below 10843 - 10794 - 10686 - 10615 SL - 10865

INTRADAY TRADE
Reliance Industries: Buy above 989 for targets of 991, 994, 1001 SL 982
Reliance Industries: Sell below 979 for targets of 977, 973, 967 SL 987
Hanung: Buy above 231 for targets of 234, 238 SL 226
DishTV: Buy above 61.5 for targets of 62, 63 SL 60.4
SCORE SHEET
Ajantpharm: Buy above 222 for targets of 226, 231 SL 217: Target 227 achieved
IDBI: Buy above 151 for targets of 153, 156 SL 148: Target 152.9 achieved

POSITIONAL TRADE
LICHsgfin: Buy above 195 for target of 208 SL 186 (One Week)
BankIndia: Buy above 463 for target of 483 SL 452 (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