Market outlook for 24/11/11

Nifty closed down 105.90 points (2.20%) at 4706.45 while Nifty Future closed at 4703.90, discount of 2.55 points.
Bank Nifty closed down 212.40 points (2.47%) at 8399.30 while Future closed at 8397.40, discount of 1.90 points.

• FII sold in Cash (Net sell 1186.42 Crore)
• FII sold index future, index option but bought in stock future (Net sell 1305.20 Crore)
• DII bought in Cash (Net buy 926.16 Crore)
• US futures are trading negative.
• Global cues are negative.
• SGX nifty is flat to negative as of now.
• Most Active Nifty Call Option: 4700 and 4800.
• Most Active Nifty Put Options: 4700 and 4600.
• Advance Decline for the day was 310:1156.

NIFTY TECHNICAL

Current Spot: 4706.45
Pivot: 4709
5DEMA: 4829
10DEMA: 4935
20DEMA: 5020
50DEMA: 5040
RSI (14 days): 28.83
Parabolic SAR: 5028
Supports: 4638 - 4570 - 4500
Resistance: 4777 -4848 - 4916
CAM Support: 4694 - 4681 - 4668 - 4630
CAM Resistance: 4719 - 4732 - 4745 - 4783
NF VIX Range: 4634 - 4774

Nifty Future VWAP: 4702.60
MP Values Nifty Future: VAH - 4721, POC - 4686, VAL - 4651

TARGET NIFTY
Buy Nifty Future above 4707 - 4745 - 4810 - 4895 SL - 4699
Sell Nifty Future below 4696 - 4645 - 4595 - 4515 SL - 4706

BANKNIFTY TECHNICAL

Current Spot: 8399.30
Pivot: 8399
5DEMA: 8662
10DEMA: 8912
20DEMA: 9170
50DEMA: 9369
RSI (14 days): 26.06
Parabolic SAR: 9058
Supports: 8241 - 8083 - 7925
Resistance: 8557 - 8715 - 8873
CAM Support: 8370 - 8341 - 8312 - 8226
CAM Resistance: 8428 - 8457 - 8486 - 8573
Bank Nifty VIX Range: 8238 - 8557

Bank Nifty Future VWAP: 8385.72
MP Values Bank Nifty Future: VAH - 8453, POC - 8374, VAL - 8295

TARGET BANKNIFTY
Buy BankNifty Future above 8404 - 8490 - 8590 - 8695 SL - 8387
Sell BankNifty Future below 8379 - 8315 - 8230 - 8130 SL - 8396

INTRADAY TRADE
Reliance Industries: Buy above 775 for targets of 779, 785, 797 SL 771
Reliance Industries: Sell below 769 for targets of 765, 759, 747 SL 775
Educomp: Buy above 182 for targets of 184, 188 SL 179
Titan: Buy above 192 for targets of 194, 198 SL 187.40

SCORE SHEET
Educomp: Buy above 181 for targets of 184, 188 SL 176: Target 184.50 achieved
TataMotors: Buy above 173 for targets of 176, 181 SL 169.50: Call not activated

POSITIONAL TRADE
Onelifecap: Buy above 274 for target of 284 SL 270 (2-3 Days)
Camlin: Buy above 38 for target of 41 SL 36.4 (1 Week)

Thanks and Regards

S&P Wealth Creators