Market outlook for 17/05/2012

Nifty closed down 84.55 points (1.71%) at 4858.25 while Nifty Future closed at 4856.90, discount of 1.35 points.
Bank Nifty closed down 155.45 points (1.67%) at 9164.25 while Future closed at 9108.05, discount of 56.20 points.

• FII sold in Cash (Net sell 546.85 Crore)
• FII bought in index option but sold in index future, stock future (Net buy 377.89 Crore)
• DII bought in Cash (Net buy 171.83 Crore)
• Most Active Nifty Call Option: 4900 and 5000.
• Most Active Nifty Put Options: 4900 and 4800.
• Advance Decline for the day was 368:1057.

NIFTY TECHNICAL

Current Spot: 4858.25
Pivot: 4859
5DEMA: 4925
10DEMA: 4988
20DEMA: 5073
50DEMA: 5199
RSI (14 days): 27.36
Parabolic SAR: 5001
Supports: 4836 - 4814 - 4791
Resistance: 4881 - 4904 - 4927
CAM Support: 4854 - 4850 - 4846 - 4833
CAM Resistance: 4862 - 4867 - 4871 - 4883
NF VIX Range: 4801 - 4913

Nifty Future VWAP: 4852.85
MP Values Nifty Future: VAH - 4862, POC - 4849, VAL - 4836

TARGET NIFTY
Buy Nifty Future above 4861 - 4875 - 4900 - 4930 SL - 4849
Sell Nifty Future below 4847 - 4832 - 4805 - 4780 SL - 4857

BANKNIFTY TECHNICAL

Current Spot: 9164.25
Pivot: 9140
5DEMA: 9324
10DEMA: 9513
20DEMA: 9765
50DEMA: 10102
RSI (14 days): 26.24
Parabolic SAR: 9627
Supports: 9071 - 8979 - 8910
Resistance: 9233 - 9301 - 9394
CAM Support: 9149 - 9135 - 9120 - 9076
CAM Resistance: 9179 - 9194 - 9209 - 9253
Bank Nifty VIX Range: 8960 - 9256

Bank Nifty Future VWAP: 9075.80
MP Values Bank Nifty Future: VAH - 9128, POC - 9086, VAL - 9044

TARGET BANKNIFTY
Buy BankNifty Future above 9115 - 9190 - 9285 - 9390 SL - 9079
Sell BankNifty Future below 9078 - 9010 - 8900 - 8810 SL - 9104

INTRADAY TRADE
Reliance Industries: Buy above 681 for targets of 683, 687, 693 SL 676
Reliance Industries: Sell below 674 for targets of 672, 668, 662 SL 679
Bpcl: Buy above 757 for targets of 765, 780 SL 748
Cairn: Buy above 322 for targets of 326, 333 SL 319

SCORE SHEET
AsianPaints: Buy above 3780 for targets of 3797, 3835 SL 3740: Call not active
JswSteel: Buy above 657 for targets of 663, 678 SL 643: Call not active

POSITIONAL TRADE
BankBaroda: Buy above 644 for target of 665 SL 638 (2-3 Days)
Unitech: Buy above 21.8 for target of 24.6 SL 21.1 (1 Week)

Thanks and Regards

S&P Wealth Creators