Market outlook for 23/11/11

Nifty closed up 34.00 points (0.71%) at 4812.35 while Nifty Future closed at 4805.30, discount of 7.05 points.
Bank Nifty closed up 57.55 points (0.67%) at 8611.70 while Future closed at 8594.25, discount of 17.45 points.

• FII sold in Cash (Net sell 952.68 Crore)
• FII bought index future, stock future but sold in index option (Net buy 308.67 Crore)
• DII bought in Cash (Net buy 1065.51 Crore)
• US futures are trading flat to negative.
• Global cues are flat to negative.
• SGX nifty is flat to negative as of now.
• Most Active Nifty Call Option: 4800 and 4900.
• Most Active Nifty Put Options: 4800 and 4700.
• Advance Decline for the day was 739:702.

NIFTY TECHNICAL

Current Spot: 4812.35
Pivot: 4816
5DEMA: 4890
10DEMA: 4985
20DEMA: 5053
50DEMA: 5049
RSI (14 days): 33.08
Parabolic SAR: 5102
Supports: 4779 - 4745 - 4707
Resistance: 4850 -4888 - 4922
CAM Support: 4806 - 4799 - 4793 - 4773
CAM Resistance: 4819 - 4825 - 4832 - 4852
NF VIX Range: 4736 - 4874

Nifty Future VWAP: 4821.26
MP Values Nifty Future: VAH - 4840, POC - 4819, VAL - 4798

TARGET NIFTY
Buy Nifty Future above 4819 - 4845 - 4880 - 4925 SL - 4809
Sell Nifty Future below 4798 - 4773 - 4739 - 4695 SL - 4818

BANKNIFTY TECHNICAL

Current Spot: 8611.70
Pivot: 8618
5DEMA: 8793
10DEMA: 9026
20DEMA: 9251
50DEMA: 9402
RSI (14 days): 29.35
Parabolic SAR: 9237
Supports: 8538 - 8464 - 8384
Resistance: 8692 - 8772 - 8846
CAM Support: 8598 - 8583 - 8569 - 8527
CAM Resistance: 8626 - 8640 - 8654 - 8696
Bank Nifty VIX Range: 8433 - 8755

Bank Nifty Future VWAP: 8633.38
MP Values Bank Nifty Future: VAH - 8692, POC - 8641, VAL - 8590

TARGET BANKNIFTY
Buy BankNifty Future above 8617 - 8690 - 8790 - 8875 SL - 8599
Sell BankNifty Future below 8581 - 8515 - 8430 - 8330 SL - 8615

INTRADAY TRADE
Reliance Industries: Buy above 799 for targets of 802, 807, 815 SL 793
Reliance Industries: Sell below 791 for targets of 788, 783, 775 SL 797
Educomp: Buy above 181 for targets of 184, 188 SL 176
TataMotors: Buy above 173 for targets of 176, 181 SL 169.50

SCORE SHEET
Recltd: Buy above 182 for targets of 184, 187 SL 179: Target 190.85 achieved
Onelifecap: Buy above 278 for targets of 282, 290 SL 272: Target 286.70 achieved

POSITIONAL TRADE
Hindalco: Buy above 122.5 for target of 125.5 SL 121 (2-3 Days)
JPAssociat: Buy above 63.5 for target of 68 SL 62.5 (1 Week)

Thanks and Regards

S&P Wealth Creators