Market outlook for 29/12/11

Nifty closed down 44.70 points (0.94%) at 4705.80 while Nifty Future closed at 4711.10, premium of 5.30 points.
Bank Nifty closed down 164.10 points (1.98%) at 8111.40 while Future closed at 8121.65, premium of 10.25 points.

• FII bought in Cash (Net buy 81.44 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 558.00 Crore)
• DII sold in Cash (Net sell 96.49 Crore)
• US market is trading flat to negative.
• Global cues are flat to negative.
• SGX nifty is flat 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 456:978.

NIFTY TECHNICAL

Current Spot: 4705.80
Pivot: 4716
5DEMA: 4724
10DEMA: 4731
20DEMA: 4777
50DEMA: 4876
RSI (14 days): 43.36
Parabolic SAR: 4537
Supports: 4676 - 4645 - 4605
Resistance: 4746 - 4786 - 4817
CAM Support: 4699 - 4693 - 4686 - 4667
CAM Resistance: 4712 - 4719 - 4725 - 4745
NF VIX Range: 4637 - 4785

Nifty Future VWAP: 4711.86
MP Values Nifty Future: VAH - 4723, POC - 4710, VAL - 4697

TARGET NIFTY
Buy Nifty Future above 4720 - 4749 - 4789 - 4820 SL - 4705
Sell Nifty Future below 4704 - 4679 - 4645 - 4605 SL - 4719

BANKNIFTY TECHNICAL

Current Spot: 8111.40
Pivot: 8140
5DEMA: 8227
10DEMA: 8286
20DEMA: 8448
50DEMA: 8810
RSI (14 days): 38.78
Parabolic SAR: 8366
Supports: 8024 - 7937 - 7821
Resistance: 8227 - 8343 - 8430
CAM Support: 8093 - 8074 - 8056 - 8000
CAM Resistance: 8130 - 8149 - 8167 - 8223
Bank Nifty VIX Range: 7941 - 8303

Bank Nifty Future VWAP: 8130.14
MP Values Bank Nifty Future: VAH - 8158, POC - 8121, VAL - 8084

TARGET BANKNIFTY
Buy BankNifty Future above 8148 - 8220 - 8320 - 8400 SL - 8110
Sell BankNifty Future below 8109 - 8045 - 7960 - 7855 SL - 8146

INTRADAY TRADE
Reliance Industries: Buy above 748 for targets of 751, 756, 764 SL 742
Reliance Industries: Sell below 737 for targets of 734, 729, 721 SL 746
Ntpc: Buy above 162 for targets of 163, 165 SL 160
Lupin: Buy above 439 for targets of 442, 449 SL 430

SCORE SHEET
RIIL: Buy above 320 for targets of 323, 328 SL 316: Call not activated
Ambujacem: Buy above 163.5 for targets of 164.5, 165.5 SL 161.9: Target 164.75 achieved

POSITIONAL TRADE
Prakashcon: Buy above 253 for target of 273 SL 243 (2-3 Days)
Subex: Buy above 29 for target of 33 SL 26.9 (1 Week)

Thanks and Regards

S&P Wealth Creators