Tuesday, August 23, 2011

Market outlook for 24/08/11

Nifty closed up 50.10 points (1.02%) at 4948.90 while Nifty Future closed at 4947.40, discount of 1.50 points.
Bank Nifty closed up 81.35 points (0.86%) at 9488.70 while Future closed at 9480.30, discount of 8.40 points.
  • FII sold in Cash (Net sell 100.34 Crore)
  • FII bought in index future, index option and stock future (Net buy 1723.20 Crore)
  • DII bought in Cash (Net buy 302.89 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 1011:411.
NIFTY TECHNICAL
Current Spot: 4948.90
Pivot: 4926
5DEMA: 4950
10DEMA: 5027
20DEMA: 5162
50DEMA: 5326
RSI (15 days): 32.24
Parabolic SAR: 4977
Supports: 4887 - 4824 - 4785
Resistance: 4989 - 5028 - 5091
NF VIX Range: 4883 - 5011
Nifty Future VWAP: 4922.44
MP Values Nifty Future: VAH - 4944, POC - 4888, VAL - 4864

TARGET NIFTY
Buy Nifty Future above 4951 - 4990 - 5034 - 5096 SL - 4926
Sell Nifty Future below 4921 - 4886 - 4823 - 4778 SL - 4936

BANKNIFTY TECHNICAL
Current Spot: 9488.70
Pivot: 9438
5DEMA: 9598
10DEMA: 9844
20DEMA: 10188
50DEMA: 10534
RSI (15 days): 26.42
Parabolic SAR: 9745
Supports: 9354 - 9219 - 9134
Resistance: 9573 - 9658 - 9793
Bank Nifty VIX Range: 9337 - 9624
Bank Nifty Future VWAP: 9431.07
MP Values Bank Nifty Future: VAH - 9523, POC - 9473, VAL - 9372

TARGET BANKNIFTY
Buy BankNifty Future above 9487 - 9569 - 9662 - 9805 SL - 9422
Sell BankNifty Future below 9413 - 9338 - 9192 - 9098 SL - 9439

INTRADAY TRADE
Reliance Industries: Buy above 767 for targets of 770, 775, 785 SL 760
Reliance Industries: Sell below 758 for targets of 755, 750, 740 SL 763
Petronet: Buy above 184 for targets of 185.5, 188 SL 181
RIIL: Buy above 422 for targets of 427, 435 SL 412

SCORE SHEET
TataMotors: Buy above 741 for targets of 748, 765 SL 725: Target 746.90 achieved
Lovable: Buy above 505 for targets of 511, 521 SL 495: Target 542.20 achieved

POSITIONAL TRADE
Apollotyre: Buy above 58 for target of 61 SL 56.3 (2-3 Days)
GTL: Buy above 52 for target of 57 SL 51 (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