Market outlook for 11/11/11

Nifty closed down 68.30 points (1.29%) at 5221.05 while Nifty Future closed at 5237.10, premium of 16.05 points.
Bank Nifty closed down 259.90 points (2.64%) at 9592.65 while Future closed at 9605.65, premium of 13.00 points.

• FII bought in Cash (Net buy 559.04 Crore)
• FII bought in index future but sold in index option, stock future (Net buy 11.27 Crore)
• DII sold in Cash (Net sell 531.86 Crore)
• US futures are trading flat to negative.
• Global cues are negative.
• SGX nifty is flat as of now.
• Most Active Nifty Call Option: 5300 and 5400.
• Most Active Nifty Put Options: 5300 and 5200.
• Advance Decline for the day was 345:1111.

NIFTY TECHNICAL

Current Spot: 5221.05
Pivot: 5250
5DEMA: 5257
10DEMA: 5238
20DEMA: 5180
50DEMA: 5107
RSI (14 days): 54.83
Parabolic SAR: 5388
Supports: 5183 - 5144 - 5077
Resistance: 5288 -5356 - 5394
CAM Support: 5211 - 5202 - 5192 - 5163
CAM Resistance: 5231 - 5240 - 5250 - 5279
NF VIX Range: 5163 - 5311

Nifty Future VWAP: 5283.04
MP Values Nifty Future: VAH - 5331, POC - 5299, VAL - 5263

TARGET NIFTY
Buy Nifty Future above 5269 - 5300 - 5365 - 5405 SL - 5241
Sell Nifty Future below 5229 - 5200 - 5160 - 5095 SL - 5268

BANKNIFTY TECHNICAL

Current Spot: 9592.65
Pivot: 9685
5DEMA: 9746
10DEMA: 9744
20DEMA: 9685
50DEMA: 9690
RSI (14 days): 47.31
Parabolic SAR: 10053
Supports: 9473 - 9354 - 9142
Resistance: 9804 - 10016 - 10135
CAM Support: 9562 - 9532 - 9502 - 9411
CAM Resistance: 9623 - 9653 - 9684 - 9775
Bank Nifty VIX Range: 9430 - 9781

Bank Nifty Future VWAP: 9761.06
MP Values Bank Nifty Future: VAH - 9865, POC - 9761, VAL - 9657

TARGET BANKNIFTY
Buy BankNifty Future above 9715 - 9790 - 9880 - 9990 SL - 9685
Sell BankNifty Future below 9591 - 9510 - 9425 - 9340 SL - 9710

INTRADAY TRADE
Reliance Industries: Buy above 877 for targets of 880, 885, 895 SL 871
Reliance Industries: Sell below 865 for targets of 862, 857, 847 SL 875
Ashokley: Buy above 28.4 for targets of 28.8, 29.4 SL 28
Tatachem: Buy above 332 for targets of 335, 338 SL 329

SCORE SHEET
Cairn: Buy above 323 for targets of 326, 332 SL 316: Target 324.95 achieved then SL Hit
Lovable: Buy above 518 for targets of 523, 530 SL 511: Target 530.90 achieved

POSITIONAL TRADE
Uniphos: Buy above 151 for target of 158 SL 146 (2-3 Days)
Pirhealth: Buy above 375 for target of 392 SL 368 (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