Market outlook for 24/02/11

Nifty closed down 31.85 points (0.58%) at 5437.35 while Nifty February Future closed at 5435.75 discount of 1.60 points
Bank Nifty closed down 190.35 points (1.76%) at 10646.45 while February Future closed at 10665.65 premium of 19.20 points.

• FII sold in Cash (Net sell 554.60 Crore)
• FII bought in index option but sold in index future and stock future (Net buy 706.72 Crore)
• DII bought in Cash (Net buy 352.82 Crore)
• US market is in RED.
• Global cues are flat to Negative.
• 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 486:883

NIFTY TECHNICAL

Current Spot: 5437.35
Pivot: 5459
5DEMA: 5464
10DEMA: 5458
20DEMA: 5491
50DEMA: 5635
RSI (15 days): 43.56
Parabolic SAR: 5315
Supports: 5392 - 5346
Resistance: 5505 - 5572

Nifty Future VWAP: 5466.88
MP Values Futures: VAH - 5494, POC - 5476, VAL - 5458

TARGET NIFTY
Buy Nifty Future above 5459 - 5480 - 5527 - 5555 SL - 5442
Sell Nifty Future below 5428 - 5410 - 5382 - 5335 SL - 5457

BANKNIFTY TECHNICAL

Current Spot: 10646.45
Pivot: 10782
5DEMA: 10823
10DEMA: 10786
20DEMA: 10753
50DEMA: 10978
RSI (15 days): 46.54
Parabolic SAR: 10438
Supports: 10493 - 10340
Resistance: 10935 - 11224

Bank Nifty Future VWAP: 10773.27
MP Values Bank Nifty Futures: VAH - 10876, POC - 10816, VAL - 10750

TARGET BANKNIFTY
Buy BankNifty Future above 10736 - 10810 - 10960 - 11048 SL - 10712
Sell BankNifty Future below 10650 - 10583 - 10496 - 10346 SL - 10733

INTRADAY TRADE
Reliance Industries: Buy above 998 for targets of 1001, 1005, 1014 SL 992
Reliance Industries: Sell below 989 for targets of 987, 983, 978 SL 997
Tatacomm: Buy above 221 for targets of 223, 227 SL 217
SBT: Buy above 828 for targets of 842, 865 SL 801

SCORE SHEET
Gspl: Buy above 96 for targets of 97, 99 SL 94: Target 97.2 achieved
Walchannag: Buy above 143 for targets of 145, 150 SL 138: Target 147.3 achieved

POSITIONAL TRADE
Maninfra: Buy above 173 for target of 194 SL 162 (One Week)
Hexaware: Buy above 121 for target of 128 SL 117 (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