Market outlook for 24/03/11

Nifty closed up 66.40 points (1.23%) at 5480.25 while Nifty March Future closed at 5500.25 premium of 20.00 points.
Bank Nifty closed up 186.80 points (1.73%) at 10958.10 while March Future closed at 10986.05 premium of 27.95 points.

• FII bought in Cash (Net buy 312.10 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 698.64 Crore)
• DII bought huge in Cash (Net buy 1111.68 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: 5500 and 5400.
• Advance Decline for the day was 828:549.

NIFTY TECHNICAL

Current Spot: 5480.25
Pivot: 5456
5DEMA: 5437
10DEMA: 5445
20DEMA: 5456
50DEMA: 5541
RSI (15 days): 50.29
Parabolic SAR: 5598
Supports: 5426 - 5373
Resistance: 5509 - 5539

Nifty Future VWAP: 5478.66
MP Values Futures: VAH - 5504, POC - 5492, VAL - 5462

TARGET NIFTY
Buy Nifty Future above 5504 - 5529 - 5560 - 5610 SL - 5470
Sell Nifty Future below 5465 - 5445 - 5389 - 5355 SL - 5479

BANKNIFTY TECHNICAL

Current Spot: 10958.10
Pivot: 10892
5DEMA: 10838
10DEMA: 10824
20DEMA: 10802
50DEMA: 10845
RSI (15 days): 53.92
Parabolic SAR: 10972
Supports: 10811 - 10664
Resistance: 11039 - 11119

Bank Nifty Future VWAP: 10936.29
MP Values Bank Nifty Futures: VAH - 10998, POC - 10950, VAL - 10882

TARGET BANKNIFTY
Buy BankNifty Future above 10994 - 11061 - 11141 - 11288 SL - 10914
Sell BankNifty Future below 10903 - 10845 - 10698 - 10617 SL - 10939

INTRADAY TRADE
Reliance Industries: Buy above 1016 for targets of 1019, 1024, 1032 SL 1006
Reliance Industries: Sell below 1004 for targets of 1002, 996, 989 SL 1011
Glodyne: Buy above 437 for targets of 443, 455 SL 420
HindOilexpo: Buy above 196 for targets of 199, 203 SL 192

SCORE SHEET
Gravita: Buy above 304 for targets of 307, 315 SL 296: Call not activated
Mphasis: Buy above 394 for targets of 397, 402 SL 388: Target 397.65 achieved

POSITIONAL TRADE
EdServ: Buy above 137 for target of 149 SL 131 (One Week)
DCHL: Buy above 79 for target of 87 SL 75 (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