Market outlook for 29/05/2012

Nifty closed up 65.25 points (1.33%) at 4985.65 while Nifty Future closed at 4975.40, discount of 10.25 points.
Bank Nifty closed up 242.00 points (2.56%) at 9698.30 while Future closed at 9650.95, discount of 47.35 points.

• FII bought in Cash (Net buy 108.88 Crore)
• FII bought in index future, stock future but sold in index option (Net buy 339.02 Crore)
• DII bought in Cash (Net buy 167.70 Crore)
• Most Active Nifty Call Option: 4900 and 5000.
• Most Active Nifty Put Options: 4900 and 4800.
• Advance Decline for the day was 956:478.

NIFTY TECHNICAL

Current Spot: 4985.65
Pivot: 4971
5DEMA: 4928
10DEMA: 4928
20DEMA: 4980
50DEMA: 5106
RSI (14 days): 46.88
Parabolic SAR: 4817
Supports: 4946 - 4907 - 4883
Resistance: 5010 - 5034 - 5074
CAM Support: 4980 - 4974 - 4968 - 4951
CAM Resistance: 4991 - 4997 - 5003 - 5021
NF VIX Range: 4921 - 5030

Nifty Future VWAP: 4952.13
MP Values Nifty Future: VAH - 4955, POC - 4940, VAL - 4927

TARGET NIFTY
Buy Nifty Future above 4979 - 4998 - 5020 - 5055 SL - 4960
Sell Nifty Future below 4955 - 4940 - 4905 - 4880 SL - 4976

BANKNIFTY TECHNICAL

Current Spot: 9698.30
Pivot: 9633
5DEMA: 9480
10DEMA: 9445
20DEMA: 9562
50DEMA: 9873
RSI (14 days): 51.40
Parabolic SAR: 9091
Supports: 9549 - 9399 - 9315
Resistance: 9782 - 9866 - 10016
CAM Support: 9677 - 9655 - 9634 - 9570
CAM Resistance: 9720 - 9741 - 9762 - 9827
Bank Nifty VIX Range: 9493 - 9809

Bank Nifty Future VWAP: 9544.41
MP Values Bank Nifty Future: VAH - 9581, POC - 9532, VAL - 9483

TARGET BANKNIFTY
Buy BankNifty Future above 9658 - 9720 - 9810 - 9950 SL - 9590
Sell BankNifty Future below 9580 - 9520 - 9380 - 9295 SL - 9615

INTRADAY TRADE
Reliance Industries: Buy above 703 for targets of 705, 709, 715 SL 697
Reliance Industries: Sell below 695 for targets of 693, 690, 685 SL 701
GmdcLtd: Buy above 173 for targets of 174.50, 177 SL 170.5
BataIndia: Buy above 918 for targets of 923, 933 SL 906

SCORE SHEET
Marico: Buy above 178.5 for targets of 180, 183 SL 175.5: Target 179.75 Achieved
Adanient: Buy above 260 for targets of 264, 270 SL 255: Target 264.90 Achieved

POSITIONAL TRADE
Shalpaints: Buy above 630 for target of 685 SL 605 (2-3 Days)
Irb: Buy above 117 for target of 126 SL 115 (1 Week)

Thanks and Regards

S&P Wealth Creators