Market outlook for 23/03/11

Nifty closed up 49.10 points (0.92%) at 5413.85 while Nifty March Future closed at 5434.15 premium of 20.30 points.
Bank Nifty closed up 47.70 points (0.44%) at 10771.30 while March Future closed at 10814.45 premium of 43.15 points.

• FII bought in Cash (Net buy 236.29 Crore)
• FII bought in index future, stock future but sold in index option (Net buy 812.34 Crore)
• DII bought in Cash (Net buy 96.04 Crore)
• US market is trading flat to negative.
• Global cues are flat to negative.
• 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 849:535.

NIFTY TECHNICAL

Current Spot: 5413.85
Pivot: 5406
5DEMA: 5416
10DEMA: 5437
20DEMA: 5454
50DEMA: 5544
RSI (15 days): 46.18
Parabolic SAR: 5603
Supports: 5384 - 5354
Resistance: 5436 - 5458

Nifty Future VWAP: 5425.23
MP Values Futures: VAH - 5448, POC - 5436, VAL - 5420

TARGET NIFTY
Buy Nifty Future above 5438 - 5457 - 5482 - 5518 SL - 5421
Sell Nifty Future below 5414 - 5401 - 5369 - 5340 SL - 5426

BANKNIFTY TECHNICAL

Current Spot: 10771.30
Pivot: 10773
5DEMA: 10778
10DEMA: 10794
20DEMA: 10785
50DEMA: 10840
RSI (15 days): 49.53
Parabolic SAR: 10985
Supports: 10724 - 10677
Resistance: 10820 - 10869

Bank Nifty Future VWAP: 10816.67
MP Values Bank Nifty Futures: VAH - 10846, POC - 10820, VAL - 10794

TARGET BANKNIFTY
Buy BankNifty Future above 10823 - 10861 - 10912 - 10965 SL - 10802
Sell BankNifty Future below 10797 - 10767 - 10723 - 10665 SL - 10819

INTRADAY TRADE
Reliance Industries: Buy above 1002 for targets of 1004, 1009, 1016 SL 996
Reliance Industries: Sell below 994 for targets of 993, 989, 983 SL 1001
Gravita: Buy above 304 for targets of 307, 315 SL 296
Mphasis: Buy above 394 for targets of 397, 402 SL 388

SCORE SHEET
HindOilExp: Buy above 180 for targets of 182, 186 SL 174: Target 182.60 achieved
Gujfluoro: Buy above 348 for targets of 351, 357 SL 341: Target 361.25 achieved

POSITIONAL TRADE
Gitanjali: Buy above 214 for target of 228 SL 206 (One Week)
Wockpharma: Buy above 318 for target of 339 SL 311 (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