Market outlook for 22/02/11

Nifty closed up 59.65 points (1.09%) at 5518.60 while Nifty February Future closed at 5528.15 premium of 9.55 points
Bank Nifty closed up 100.40 points (0.92%) at 11050.10 while February Future closed at 11070.90 premium of 20.80 points.

• FIIsold in Cash (Net sell 245.42 Crore)
• FII sold in index future, index option but bought in stock future (Net sell 444.48 Crore)
• DII sold in Cash (Net sell 27.61 Crore)
• US market was closed.
• Global cues are flat.
• SGX nifty is flat as of now.
• Most Active Nifty Feb Call Option: 5400 and 5500.
• Most Active Nifty Feb Put Options: 5500 and 5400.
• Advance Decline for the day was 611:771

NIFTY TECHNICAL

Current Spot: 5518.60
Pivot: 5486
5DEMA: 5482
10DEMA: 5461
20DEMA: 5499
50DEMA: 5656
RSI (15 days): 47.76
Parabolic SAR: 5264
Supports: 5446 - 5373
Resistance: 5559 - 5599

Nifty Future VWAP: 5468.23
MP Values Futures: VAH - 5496, POC - 5459, VAL - 5422

TARGET NIFTY
Buy Nifty Future above 5532 - 5572 - 5618 - 5700 SL - 5490
Sell Nifty Future below 5484 - 5449 - 5367 - 5321 SL - 5495

BANKNIFTY TECHNICAL

Current Spot: 11050.10
Pivot: 10976
5DEMA: 10948
10DEMA: 10812
20DEMA: 10756
50DEMA: 11012
RSI (15 days): 55.08
Parabolic SAR: 10282
Supports: 10881 - 10712
Resistance: 11145 - 11240

Bank Nifty Future VWAP: 10922.52
MP Values Bank Nifty Futures: VAH - 10960, POC - 10852, VAL - 10785

TARGET BANKNIFTY
Buy BankNifty Future above 11079 - 11180 - 11294 - 11494 SL - 10979
Sell BankNifty Future below 10968 - 10876 - 10676 - 10562 SL - 10990

INTRADAY TRADE
Reliance Industries: Buy above 959 for targets of 963, 968, 975 SL 948
Reliance Industries: Sell below 946 for targets of 943, 937, 926 SL 953
Educomp: Buy above 514 for targets of 518, 526 SL 503
Ster: Buy above 167 for targets of 168, 170 SL 164.5

SCORE SHEET
StcIndia: Buy above 273 for targets of 277, 288 SL 267: Target 279.4 achieved
TataChem: Buy above 330 for targets of 332, 337 SL 326: Target 339.2 achieved

POSITIONAL TRADE
Wipro: Buy above 453 for target of 465 SL 445 (One Week)
JpAssoicat: Buy above 88 for target of 92 SL 86 (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