Market outlook for 23/05/2012

Nifty closed down 45.55 points (0.93%) at 4860.50 while Nifty Future closed at 4841.20, discount of 19.30 points.
Bank Nifty closed down 143.20 points (1.52%) at 9268.80 while Future closed at 9184.90, discount of 83.90 points.

• FII sold in Cash (Net sell 283.34 Crore)
• FII bought in index future, index option, stock future (Net buy 863.14 Crore)
• DII bought in Cash (Net buy 207.60 Crore)
• Most Active Nifty Call Option: 4900 and 5000.
• Most Active Nifty Put Options: 4900 and 4800.
• Advance Decline for the day was 513:890.

NIFTY TECHNICAL

Current Spot: 4860.50
Pivot: 4889
5DEMA: 4889
10DEMA: 4929
20DEMA: 5010
50DEMA: 5150
RSI (14 days): 30.53
Parabolic SAR: 4792
Supports: 4821 - 4782 - 4715
Resistance: 4928 - 4995 - 5034
CAM Support: 4851 - 4841 - 4831 - 4802
CAM Resistance: 4870 - 4880 - 4890 - 4919
NF VIX Range: 4790 - 4893

Nifty Future VWAP: 4882.42
MP Values Nifty Future: VAH - 4910, POC - 4873, VAL - 4836

TARGET NIFTY
Buy Nifty Future above 4874 - 4905 - 4970 - 5015 SL - 4858
Sell Nifty Future below 4834 - 4805 - 4765 - 4700 SL - 4873

BANKNIFTY TECHNICAL

Current Spot: 9268.80
Pivot: 9348
5DEMA: 9306
10DEMA: 9393
20DEMA: 9608
50DEMA: 9966
RSI (14 days): 34.40
Parabolic SAR: 9006
Supports: 9174 - 9079 - 8905
Resistance: 9443 - 9617 - 9712
CAM Support: 9244 - 9219 - 9195 - 9121
CAM Resistance: 9293 - 9318 - 9343 - 9417
Bank Nifty VIX Range: 9041 - 9329

Bank Nifty Future VWAP: 9304.80
MP Values Bank Nifty Future: VAH - 9383, POC - 9296, VAL - 9209

TARGET BANKNIFTY
Buy BankNifty Future above 9273 - 9360 - 9540 - 9640 SL - 9232
Sell BankNifty Future below 9171 - 9090 - 9000 - 8810 SL - 9271

INTRADAY TRADE
Reliance Industries: Buy above 698 for targets of 700, 705, 714 SL 693
Reliance Industries: Sell below 688 for targets of 686, 681, 672 SL 697
Wockpharma: Buy above 725 for targets of 735, 753 SL 711
Appaper: Buy above 241 for targets of 244, 252 SL 237

SCORE SHEET
Riil: Buy above 398 for targets of 404, 415 SL 391: Target 412.75 done
Igl: Buy above 214 for targets of 216, 220 SL 211: Target 218.00 done

POSITIONAL TRADE
BajajElec: Buy above 232 for target of 240 SL 229 (2-3 Days)
Kpit: Buy above 127 for target of 134 SL 125 (1 Week)

Thanks and Regards

S&P Wealth Creators