Market outlook for 22/03/11

Nifty closed down 8.95 points (0.17%) at 5364.75 while Nifty March Future closed at 5380.10 premium of 15.35 points.
Bank Nifty closed up 7.70 points (0.07%) at 10723.60 while March Future closed at 10770.45 premium of 46.85 points.

• FII sold in Cash (Net sell 97.02 Crore)
• FII sold in index future, stock future and index option (Net sell 990.73 Crore)
• DII bought in Cash (Net buy 47.98 Crore)
• US market is trading in Green.
• Global cues are flat to positive.
• SGX nifty is flat as of now.
• Most Active Nifty March Call Option: 5400 and 5500.
• Most Active Nifty March Put Options: 5400 and 5300.
• Advance Decline for the day was 514:872.

NIFTY TECHNICAL

Current Spot: 5364.75
Pivot: 5375
5DEMA: 5417
10DEMA: 5442
20DEMA: 5458
50DEMA: 5551
RSI (15 days): 42.9
Parabolic SAR: 5608
Supports: 5337 - 5310
Resistance: 5403 - 5441

Nifty Future VWAP: 5395.20
MP Values Futures: VAH - 5424, POC - 5404, VAL - 5382

TARGET NIFTY
Buy Nifty Future above 5391 - 5415 - 5446 - 5483 SL - 5379
Sell Nifty Future below 5372 - 5353 - 5322 - 5285 SL - 5390

BANKNIFTY TECHNICAL

Current Spot: 10723.60
Pivot: 10733
5DEMA: 10781
10DEMA: 10799
20DEMA: 10787
50DEMA: 10849
RSI (15 days): 48.33
Parabolic SAR: 11001
Supports: 10652 - 10580
Resistance: 10805 - 10887

Bank Nifty Future VWAP: 10771.63
MP Values Bank Nifty Futures: VAH - 10816, POC - 10780, VAL - 10744

TARGET BANKNIFTY
Buy BankNifty Future above 10779 - 10838 - 10911 - 10987 SL - 10752
Sell BankNifty Future below 10751 - 10700 - 10623 - 10550 SL - 10774

INTRADAY TRADE
Reliance Industries: Buy above 995 for targets of 997, 1003, 1011 SL 988
Reliance Industries: Sell below 985 for targets of 983, 979, 971 SL 993
HindOilExp: Buy above 180 for targets of 182, 186 SL 174
Gujfluoro: Buy above 348 for targets of 351, 357 SL 341

SCORE SHEET
AuroPharma: Buy above 204 for targets of 206, 210 SL 201: Target 205.35 achieved
Mcleodruss: Buy above 266 for targets of 269, 274 SL 261: Target 270.90 achieved

POSITIONAL TRADE
Lupin: Buy above 404 for target of 426 SL 398 (One Week)
Escorts: Buy above 143 for target of 156 SL 139 (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