Market outlook for 23/04/2012

Nifty closed down 41.55 points (0.78%) at 5290.85 while Nifty Future closed at 5302.00, premium of 11.15 points.
Bank Nifty closed down 111.40 points (1.05%) at 10456.50 while Future closed at 10466.45, premium of 9.95 points.

• FII bought in Cash (Net buy 314.04 Crore)
• FII sold in index future, stock future but sold in index option (Net sold 240.67 Crore)
• DII bought in Cash (Net buy 134.74 Crore)
• Most Active Nifty Call Option: 5300 and 5400.
• Most Active Nifty Put Options: 5300 and 5200.
• Advance Decline for the day was 509:951.

NIFTY TECHNICAL

Current Spot: 5290.85
Pivot: 5291
5DEMA: 5291
10DEMA: 5280
20DEMA: 5281
50DEMA: 5278
RSI (14 days): 50.86
Parabolic SAR: 5184
Supports: 5245 - 5200 - 5155
Resistance: 5336 - 5382 - 5427
CAM Support: 5283 - 5274 - 5266 - 5241
CAM Resistance: 5299 - 5307 - 5316 - 5341
NF VIX Range: 5239 - 5365

Nifty Future VWAP: 5303.97
MP Values Nifty Future: VAH - 5353, POC - 5334, VAL - 5191

TARGET NIFTY
Buy Nifty Future above 5306 - 5334 - 5353 - 5385 SL - 5289
Sell Nifty Future below 5281 - 5365 - 5240 - 5190 SL - 5305

BANKNIFTY TECHNICAL

Current Spot: 10456.50
Pivot: 10474
5DEMA: 10472
10DEMA: 10415
20DEMA: 10365
50DEMA: 10281
RSI (14 days): 53.54
Parabolic SAR: 10113
Supports: 10370 - 10283 - 10179
Resistance: 10560 - 10664 - 10751
CAM Support: 10439 - 10422 - 10404 - 10352
CAM Resistance: 10474 - 10491 - 10509 - 10561
Bank Nifty VIX Range: 10294 - 10639

Bank Nifty Future VWAP: 10511.24
MP Values Bank Nifty Future: VAH - 10610, POC - 10548, VAL - 10462

TARGET BANKNIFTY
Buy BankNifty Future above 10495 - 10580 - 10700 - 10805 SL - 10472
Sell BankNifty Future below 10451 - 10370 - 10270 - 10150 SL - 10493

INTRADAY TRADE
Reliance Industries: Buy above 737 for targets of 739, 744, 750 SL 731
Reliance Industries: Sell below 728 for targets of 726, 722, 715 SL 735
Gitanjali: Buy above 336 for targets of 340, 345 SL 331
HindPetro: Buy above 306 for targets of 309, 315 SL 302

SCORE SHEET
Bfutilitie: Buy above 445 for targets of 450, 460 SL 437: SL Hit
Hdfcbank: Buy above 556 for targets of 559, 566 SL 549: SL Hit

POSITIONAL TRADE
UnionBank: Buy above 226 for target of 235 SL 221 (2-3 Days)
Ceatltd: Buy above 112 for target of 122 SL 109 (1 Week)

Thanks and Regards

S&P Wealth Creators