Market outlook for 23/09/11

Nifty closed down 209.60 points (4.08%) at 4923.65 while Nifty Future closed at 4913.90, discount of 9.75 points.
Bank Nifty closed down 408.40 points (4.11%) at 9520.60 while Future closed at 9494.40, discount of 26.20 points.

• FII sold in Cash (Net sell 1305.55 Crore)
• FII sold in index future, stock future but bought in index option (Net sell 516.79 Crore)
• DII bought in Cash (Net buy 743.47 Crore)
• US futures are trading negaitive.
• Global cues are flat to negative.
• SGX nifty is flat as of now.
• Most Active Nifty Call Option: 5000 and 5100.
• Most Active Nifty Put Options: 5000 and 4900.
• Advance Decline for the day was 121:1345.

NIFTY TECHNICAL

Current Spot: 4923.65
Pivot: 4964
5DEMA: 5037
10DEMA: 5041
20DEMA: 5049
50DEMA: 5146
RSI (15 days): 42.29
Parabolic SAR: 5169
Supports: 4868 - 4812 - 4716
Resistance: 5020 - 5116 - 5172
NF VIX Range: 4827 - 5001

Nifty Future VWAP: 4986.39
MP Values Nifty Future: VAH - 5045, POC - 4987, VAL - 4929

TARGET NIFTY
Buy Nifty Future above 4962 - 5015 - 5115 - 5175 SL - 4945
Sell Nifty Future below 4907 - 4857 - 4800 - 4720 SL - 4960

BANKNIFTY TECHNICAL

Current Spot: 9520.60
Pivot: 9589
5DEMA: 9679
10DEMA: 9658
20DEMA: 9695
50DEMA: 10005
RSI (15 days): 44.37
Parabolic SAR: 9972
Supports: 9421 - 9322 - 9155
Resistance: 9688 - 9855 - 9954
Bank Nifty VIX Range: 9307 - 9682

Bank Nifty Future VWAP: 9619.37
MP Values Bank Nifty Future: VAH - 9733, POC - 9633, VAL - 9533

TARGET BANKNIFTY
Buy BankNifty Future above 9585 - 9685 - 9880 - 9990 SL - 9563
Sell BankNifty Future below 9480 - 9390 - 9280 - 9080 SL - 9583

INTRADAY TRADE
Reliance Industries: Buy above 802 for targets of 806, 812, 822 SL 796
Reliance Industries: Sell below 782 for targets of 778, 772, 762 SL 800
Gitanjali: Buy above 362 for targets of 365, 373 SL 358
Treehouse: Buy above 168 for targets of 171, 177 SL 166

SCORE SHEET
Timken: Buy above 221 for targets of 224, 230 SL 216: Target 225.00 achieved
Jindalpoly: Buy above 226 for targets of 230, 235 SL 223: SL Hit

POSITIONAL TRADE
TataMotors: Buy above 158 for target of 164 SL 156 (2-3 Days)
Koutons: Buy above 22.5 for target of 25.5 SL 22 (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