Market outlook for 18/04/11

Nifty closed down 86.95 points (1.47%) at 5824.55 while Nifty April Future closed at 5834.15 premium of 9.60 points.
Bank Nifty closed down 103.85 points (0.88%) at 11735.65 while April Future closed at 11771.65 premium of 36.00 points.

• FII sold in Cash (Net sell 253.43 Crore)
• FII sold in index future, stock future but bought in stock option (Net sell 843.05 Crore)
• DII sold in Cash (Net sell 360.88 Crore)
• US market ended positive.
• Global cues are flat to positive.
• SGX nifty is flat as of now.
• Most Active Nifty April Call Option: 5900 and 6000.
• Most Active Nifty April Put Options: 5900 and 5800.
• Advance Decline for the day was 513:881.

NIFTY TECHNICAL

Current Spot: 5824.55
Pivot: 5846
5DEMA: 5849
10DEMA: 5823
20DEMA: 5745
50DEMA: 5637
RSI (15 days): 58.26
Parabolic SAR: 5940
Supports: 5785 - 5745
Resistance: 5886 - 5947
DeMark’s: 5765 - 5866

Nifty Future VWAP: 5860.57
MP Values Futures: VAH - 5884, POC - 5842, VAL - 5822

TARGET NIFTY
Buy Nifty Future above 5864 - 5895 - 5960 - 6000 SL - 5849
Sell Nifty Future below 5825 - 5798 - 5760 - 5695 SL - 5862

BANKNIFTY TECHNICAL

Current Spot: 11735.65
Pivot: 11798
5DEMA: 11730
10DEMA: 11667
20DEMA: 11485
50DEMA: 11136
RSI (15 days): 61.21
Parabolic SAR: 11491
Supports: 11645 - 11555
Resistance: 11888 - 12041
DeMark’s: 11600 - 11843

Bank Nifty Future VWAP: 11852.10
MP Values Bank Nifty Futures: VAH - 11910, POC - 11794, VAL - 11742

TARGET BANKNIFTY
Buy BankNifty Future above 11845 - 11926 - 12085 - 12180 SL - 11820
Sell BankNifty Future below 11754 - 11682 - 10585 - 11425 SL - 11842

INTRADAY TRADE
Reliance Industries: Buy above 1024 for targets of 1026, 1030, 1038 SL 1014
Reliance Industries: Sell below 1012 for targets of 1010, 1004, 992 SL 1019
UFlex: Buy above 185 for targets of 188, 195 SL 177
Jublfood: Buy above 630 for targets of 639, 654 SL 621

SCORE SHEET
MLL: Buy above 44 for targets of 45, 46.1 SL 43: Target 44.90 achieved
Strtech: Buy above 68.6 for targets of 70, 71.4 SL 66.2: Call still on Hold

POSITIONAL TRADE
HeroHonda: Buy above 1840 for target of 1960 SL 1800 (One Week)
Saregama: Buy above 87 for target of 96 SL 85 (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