Market outlook for 21/03/11

Nifty closed down 72.95 points (1.34%) at 5373.70 while Nifty March Future closed at 5386.85 premium of 13.15 points.
Bank Nifty closed down 136.05 points (1.25%) at 10715.90 while March Future closed at 10756.10 premium of 40.20 points.

• FII sold in Cash (Net sell 523.51 Crore)
• FII sold in index future, stock future and index option (Net sell 1306.09 Crore)
• DII bought in Cash (Net buy 296.30 Crore)
• US market ended in Green.
• Global cues are flat to positive.
• 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 421:976.

NIFTY TECHNICAL

Current Spot: 5373.70
Pivot: 5408
5DEMA: 5442
10DEMA: 5459
20DEMA: 5468
50DEMA: 5554
RSI (15 days): 43.5
Parabolic SAR: 5364
Supports: 5332 - 5291
Resistance: 5449 - 5524

Nifty Future VWAP: 5415.84
MP Values Futures: VAH - 5442, POC - 5414, VAL - 5386

TARGET NIFTY
Buy Nifty Future above 5427 - 5463 - 5543 - 5586 SL - 5406
Sell Nifty Future below 5379 - 5347 - 5305 - 5239 SL - 5426

BANKNIFTY TECHNICAL

Current Spot: 10715.90
Pivot: 10781
5DEMA: 10810
10DEMA: 10816
20DEMA: 10793
50DEMA: 10831
RSI (15 days): 48.42
Parabolic SAR: 11018
Supports: 10634 - 10553
Resistance: 10862 - 11009

Bank Nifty Future VWAP: 10818.07
MP Values Bank Nifty Futures: VAH - 10874, POC - 10816, VAL - 10758

TARGET BANKNIFTY
Buy BankNifty Future above 10826 - 10861 - 11008 - 11090 SL - 10799
Sell BankNifty Future below 10741 - 10634 - 10553 - 10407 SL - 10824

INTRADAY TRADE
Reliance Industries: Buy above 1010 for targets of 1014, 1019, 1028 SL 1002
Reliance Industries: Sell below 988 for targets of 985, 979, 970 SL 1007
AuroPharma: Buy above 204 for targets of 206, 210 SL 201
Mcleodruss: Buy above 266 for targets of 269, 274 SL 261

SCORE SHEET
Relmedia: Buy above 156.5 for targets of 158, 161 SL 154: Target 157.75 achieved
Talwalkars: Buy above 226 for targets of 229, 234 SL 222: Target 233.85 achieved

POSITIONAL TRADE
IFBInd: Buy above 154 for target of 174 SL 148 (One Week)
Nationalum: Buy above 109 for target of 119 SL 106 (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