Market outlook for 31/10/11

Nifty closed up 158.90 points (3.05%) at 5360.70 while Nifty Future closed at 5385.50, premium of 24.80 points.
Bank Nifty closed up 370.45 points (3.88%) at 9917.05 while Future closed at 9959.90, premium of 42.85 points.

• FII bought huge in Cash (Net buy 2166.21 Crore)
• FII bought in index future, index option and in stock future (Net buy 3251.16 Crore)
• DII sold in Cash (Net sell 1078.41 Crore)
• US futures ended in Green.
• Global cues are flat to positive.
• SGX nifty is positive as of now.
• Most Active Nifty Call Option: 5400 and 5500.
• Most Active Nifty Put Options: 5300 and 5200.
• Advance Decline for the day was 971:486.

NIFTY TECHNICAL

Current Spot: 5360.70
Pivot: 5361
5DEMA: 5218
10DEMA: 5153
20DEMA: 5091
50DEMA: 5089
RSI (14 days): 65.54
Parabolic SAR: 5102
Supports: 5322 - 5284 - 5246
Resistance: 5399 -5438 - 5476
CAM Support: 5354 - 5347 - 5340 - 5318
CAM Resistance: 5368 - 5375 - 5382 - 5403
NF VIX Range: 5297 - 5474

Nifty Future VWAP: 5380.16
MP Values Nifty Future: VAH - 5392, POC - 5380, VAL - 5368

TARGET NIFTY
Buy Nifty Future above 5390 - 5409 - 5435 - 5470 SL - 5372
Sell Nifty Future below 5368 - 5353 - 5320 - 5290 SL - 5384

BANKNIFTY TECHNICAL

Current Spot: 9917.05
Pivot: 9896
5DEMA: 9703
10DEMA: 9642
20DEMA: 9578
50DEMA: 9698
RSI (14 days): 58.07
Parabolic SAR: 9408
Supports: 9859 - 9801 - 9764
Resistance: 9954 - 9991 - 10049
CAM Support: 9908 - 9900 - 9991 - 9865
CAM Resistance: 9926 - 9934 - 9943 - 9969
Bank Nifty VIX Range: 9759 - 10161

Bank Nifty Future VWAP: 9936.15
MP Values Bank Nifty Future: VAH - 9974, POC - 9935, VAL - 9896

TARGET BANKNIFTY
Buy BankNifty Future above 9967 - 10030 - 10100 - 10215 SL - 9917
Sell BankNifty Future below 9907 - 9855 - 9740 - 9670 SL - 9945

INTRADAY TRADE
Reliance Industries: Buy above 902 for targets of 904, 910, 920 SL 894
Reliance Industries: Sell below 892 for targets of 888, 882, 872 SL 898
TataSteel: Buy above 486 for targets of 491, 500 SL 480
Onelifecap: Buy above 226 for targets of 230, 236 SL 217

SCORE SHEET
GTL: Buy above 51.60 for targets of 52.5, 54.5 SL 50.40 : Target 51.90 achieved
NitinFire: Buy above 41.50 for targets of 42, 43.5 SL 40.7 : Call not activated

POSITIONAL TRADE
Hindalco: Buy above 143 for target of 152 SL 139 (2-3 Days)
TataMotors: Buy above 207 for target of 220 SL 201 (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