Market outlook for 16/03/11

Nifty closed down 81.85 points (1.48%) at 5449.65 while Nifty March Future closed at 5447.60 discount of 2.05 points.
Bank Nifty closed down 167.45 points (1.54%) at 10725.80 while March Future closed at 10722.60 discount of 3.20 points.

• FII bought in Cash (Net buy 148.28 Crore)
• FII sold in index future, stock future but bought in index option (Net sell 410.21 Crore)
• DII bought in Cash (Net buy 567.10 Crore)
• US market is trading in Red.
• Global cues are flat to negative.
• SGX nifty is flat as of now.
• Most Active Nifty March Call Option: 5500 and 5600.
• Most Active Nifty March Put Options: 5400 and 5300.
• Advance Decline for the day was 236:1161.

NIFTY TECHNICAL

Current Spot: 5449.65
Pivot: 5440
5DEMA: 5482
10DEMA: 5479
20DEMA: 5477
50DEMA: 5563
RSI (15 days): 47.40
Parabolic SAR: 5332
Supports: 5383 - 5316
Resistance: 5507 - 5565

Nifty Future VWAP: 5441.32
MP Values Futures: VAH - 5504, POC - 5474, VAL - 5418

TARGET NIFTY
Buy Nifty Future above 5452 - 5507 - 5569 - 5636 SL - 5438
Sell Nifty Future below 5435 - 5383 - 5316 - 5254 SL - 5445

BANKNIFTY TECHNICAL

Current Spot: 10725.80
Pivot: 10700
5DEMA: 10809
10DEMA: 10807
20DEMA: 10778
50DEMA: 10825
RSI (15 days): 49.44
Parabolic SAR: 11057
Supports: 10617 - 10508
Resistance: 10810 - 10893

Bank Nifty Future VWAP: 10721.53
MP Values Bank Nifty Futures: VAH - 10776, POC - 1072, VAL - 10664

TARGET BANKNIFTY
Buy BankNifty Future above 10731 - 10809 - 10900 - 11001 SL - 10705
Sell BankNifty Future below 10697 - 10628 - 10527 - 10438 SL - 10726

INTRADAY TRADE
Reliance Industries: Buy above 1040 for targets of 1045, 1051, 1060 SL 1023
Reliance Industries: Sell below 1020 for targets of 1017, 1011, 1003 SL 1028
Centralbk: Buy above 160 for targets of 162, 165 SL 160
Amtekauto: Buy above 119.5 for targets of 121.5, 125 SL 116.5

SCORE SHEET
Whirlpool: Buy above 243 for targets of 246, 250 SL 236: Call not activated
JetAirways: Buy above 473 for targets of 478, 485 SL 462: Call not activated

POSITIONAL TRADE
VIPInd: Buy above 595 for target of 674 SL 570 (One Week)
PrajInd: Buy above 71 for target of 77 SL 68 (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