Market outlook for 23/02/11

Nifty closed down 49.40 points (0.90%) at 5469.20 while Nifty February Future closed at 5470.35 premium of 1.15 points
Bank Nifty closed down 213.30 points (1.93%) at 10836.80 while February Future closed at 10840.15 premium of 3.35 points.

• FIIsold in Cash (Net sell 386.26 Crore)
• FII sold in index future, index option and stock future (Net sell 1968.53 Crore)
• DII bought in Cash (Net buy 413.99 Crore)
• US market is trading flat to Negative.
• Global cues are flat to Negative.
• SGX nifty is flat as of now.
• Most Active Nifty Feb Call Option: 5500 and 5600.
• Most Active Nifty Feb Put Options: 5500 and 5400.
• Advance Decline for the day was 445:943

NIFTY TECHNICAL

Current Spot: 5469.20
Pivot: 5475
5DEMA: 5478
10DEMA: 5462
20DEMA: 5496
50DEMA: 5649
RSI (15 days): 45.10
Parabolic SAR: 5291
Supports: 5431 - 5393
Resistance: 5513 - 5557

Nifty Future VWAP: 5475.39
MP Values Futures: VAH - 5504, POC - 5482, VAL - 5460

TARGET NIFTY
Buy Nifty Future above 5477 - 5515 - 5562 - 5607 SL - 5465
Sell Nifty Future below 5462 - 5428 - 5384 - 5337 SL - 5476

BANKNIFTY TECHNICAL

Current Spot: 10836.80
Pivot: 10895
5DEMA: 10911
10DEMA: 10817
20DEMA: 10764
50DEMA: 11005
RSI (15 days): 50.31
Parabolic SAR: 10817
Supports: 10720 - 10602
Resistance: 11012 - 11188

Bank Nifty Future VWAP: 10858.07
MP Values Bank Nifty Futures: VAH - 10914, POC - 10864, VAL - 10814

TARGET BANKNIFTY
Buy BankNifty Future above 10876 - 10967 - 11100 - 11205 SL - 10859
Sell BankNifty Future below 10824 - 10740 - 10635 - 10502 SL - 10873

INTRADAY TRADE
Reliance Industries: Buy above 996 for targets of 999, 1005, 1019 SL 989
Reliance Industries: Sell below 980 for targets of 976, 971, 963 SL 994
Gspl: Buy above 96 for targets of 97, 99 SL 94
Walchannag: Buy above 143 for targets of 145, 150 SL 138

SCORE SHEET
Educomp: Buy above 514 for targets of 518, 526 SL 503: Call not activated
Ster: Buy above 167 for targets of 168, 170 SL 164.5: Target 170.7 achieved

POSITIONAL TRADE
Jaicorpltd: Buy above 179 for target of 200 SL 167 (One Week)
HDIL: Buy above 290 for target of 305 SL 286 (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