Market outlook for 23/08/11

Nifty closed up 53.15 points (1.10%) at 4898.80 while Nifty Future closed at 4910.45, premium of 11.65 points.
Bank Nifty closed up 2.50 points (0.03%) at 9407.35 while Future closed at 9413.90, premium of 6.55 points.

• FII sold in Cash (Net sell 786.21 Crore)
• FII sold in index future, index option but bought in stock future (Net sell 1182.18 Crore)
• DII bought in Cash (Net buy 143.34 Crore)
• US futures are trading positive.
• Global cues are flat to positive.
• SGX nifty is in flat as of now.
• Most Active Nifty Call Option: 4900 and 5000.
• Most Active Nifty Put Options: 4900 and 4800.
• Advance Decline for the day was 1028:408.

NIFTY TECHNICAL

Current Spot: 4898.80
Pivot: 4873
5DEMA: 4950
10DEMA: 5044
20DEMA: 5184
50DEMA: 5342
RSI (15 days): 28.09
Parabolic SAR: 5022
Supports: 4835 - 4771 - 4734
Resistance: 4936 - 4974 - 5038
NF VIX Range: 4845 - 4975

Nifty Future VWAP: 4866.64
MP Values Nifty Future: VAH - 4879, POC - 4838, VAL - 4818

TARGET NIFTY
Buy Nifty Future above 4915 - 4946 - 4985 - 5052 SL - 4880
Sell Nifty Future below 4875 - 4846 - 4780 - 4740 SL - 4895

BANKNIFTY TECHNICAL

Current Spot: 9407.35
Pivot: 9366
5DEMA: 9652
10DEMA: 9924
20DEMA: 10261
50DEMA: 10577
RSI (15 days): 23.25
Parabolic SAR: 9876
Supports: 9266 - 9125 - 9025
Resistance: 9507 - 9607 - 9748
Bank Nifty VIX Range: 9288 - 9540

Bank Nifty Future VWAP: 9378.35
MP Values Bank Nifty Future: VAH - 9429, POC - 9367, VAL - 9305

TARGET BANKNIFTY
Buy BankNifty Future above 9421 - 9513 - 9615 - 9755 SL - 9371
Sell BankNifty Future below 9362 - 9278 - 9138 - 9035 SL - 9389

INTRADAY TRADE
Reliance Industries: Buy above 759 for targets of 762, 767, 775 SL 746
Reliance Industries: Sell below 744 for targets of 741, 736, 728 SL 749
TataMotors: Buy above 741 for targets of 748, 765 SL 725
Lovable: Buy above 505 for targets of 511, 521 SL 495

SCORE SHEET
Lichsgfin: Buy above 209 for targets of 212, 218 SL 205: Call not activated
JswSteel: Buy above 669 for targets of 677, 689 SL 655: Target 685.10 achieved

POSITIONAL TRADE
IvrclInfra: Buy above 37.7 for target of 40 SL 36.7 (2-3 Days)
Mphasis: Buy above 390 for target of 454 SL 362 (1 Week)

This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.

Thanks and Regards

S&P Wealth Creators