Market outlook for 31/03/11

Nifty closed up 51.30 points (0.89%) at 5787.65 while Nifty March Future closed at 5799.40 premium of 11.75 points.
Bank Nifty closed up 182.70 points (1.58%) at 11765.20 while March Future closed at 11789.75 premium of 24.55 points.

• FII bought in Cash (Net buy 739.61 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 1333.43 Crore)
• DII sold in Cash (Net sell 615.34 Crore)
• US market ended in Green.
• Global cues are flat to positive.
• SGX nifty is positive as of now.
• Most Active Nifty March Call Option: 5700 and 5800.
• Most Active Nifty March Put Options: 5800 and 5700.
• Advance Decline for the day was 1113:284.

NIFTY TECHNICAL

Current Spot: 5787.65
Pivot: 5782
5DEMA: 5685
10DEMA: 5607
20DEMA: 5548
50DEMA: 5576
RSI (15 days): 64.73
Parabolic SAR: 5398
Supports: 5760 - 5732
Resistance: 5809 - 5831

Nifty Future VWAP: 5795.87
MP Values Futures: VAH - 5804, POC - 5794, VAL - 5784

TARGET NIFTY
Buy Nifty Future above 5804 - 5818 - 5840 - 5865 SL - 5793
Sell Nifty Future below 5787 - 5777 - 5752 - 5730 SL - 5799

BANKNIFTY TECHNICAL

Current Spot: 11765.20
Pivot: 11731
5DEMA: 11484
10DEMA: 11269
20DEMA: 11076
50DEMA: 10972
RSI (15 days): 67.92
Parabolic SAR: 10452
Supports: 11660 - 11555
Resistance: 11836 - 11907

Bank Nifty Future VWAP: 11730.63
MP Values Bank Nifty Futures: VAH - 11792, POC - 11746, VAL - 11700

TARGET BANKNIFTY
Buy BankNifty Future above 11799 - 11868 - 11950 - 12070 SL - 11748
Sell BankNifty Future below 11736 - 11676 - 10557 - 11473 SL - 11755

INTRADAY TRADE
Reliance Industries: Buy above 1035 for targets of 1036, 1038, 1043 SL 1029
Reliance Industries: Sell below 1026 for targets of 1025, 1022, 1017 SL 1034
Ambujacem: Buy above 151 for targets of 153, 156 SL 147
Recltd: Buy above 261 for targets of 264, 269 SL 255

SCORE SHEET
Mphasis: Buy above 426 for targets of 429, 435 SL 420: Target 434.90 achieved
CorpBank: Buy above 610 for targets of 615, 625 SL 599: Target 656.90 achieved

POSITIONAL TRADE
Titan: Buy above 3860 for target of 4040 SL 3795 (One Week)
JPAssociat: Buy above 92 for target of 99 SL 90 (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