Market outlook for 23/07/2012

Nifty closed down 37.60 points (0.51%) at 5205.10 while Nifty Future closed at 5216.60, premium of 11.50 points.
Bank Nifty closed down 140.45 points (1.32%) at 10481.60 while Future closed at 10509.95, premium of 28.35 points.

• FII bought in Cash (Net buy 178.11 Crore)
• FII bought in index option but sold in index future, stock future (Net buy 448.67 Crore)
• DII sold in Cash (Net sell 37.60 Crore)
• Most Active Nifty Call Option: 5200 and 5300.
• Most Active Nifty Put Options: 5200 and 5100.
• Advance Decline for the day was 514:954.

NIFTY TECHNICAL

Current Spot: 5205.10
Pivot: 5214
5DEMA: 5221
10DEMA: 5231
20DEMA: 5216
50DEMA: 5159
RSI (14 days): 50.74
Parabolic SAR: 5289
Supports: 5189 - 5173 - 5148
Resistance: 5230 - 5255 - 5271
Nifty Future VIX Range: 5167 - 5266

Nifty Future VWAP: 5219.92
MP Values Nifty Future: VAH - 5230, POC - 5221, VAL - 5212

TARGET NIFTY
Buy Nifty Future above 5228 - 5239 - 5264 - 5280 SL - 5219
Sell Nifty Future below 5209 - 5200 - 5183 - 5160 SL - 5226

BANKNIFTY TECHNICAL

Current Spot: 10481.60
Pivot: 10523
5DEMA: 10563
10DEMA: 10556
20DEMA: 10441
50DEMA: 10194
RSI (14 days): 55.59
Parabolic SAR: 10733
Supports: 10422 - 10363 - 10263
Resistance: 10582 - 10682 - 10741
Bank Nifty Future VIX Range: 10379 - 10641

Bank Nifty Future VWAP: 10529.16
MP Values Bank Nifty Future: VAH - 10546, POC - 10520, VAL - 10494

TARGET BANKNIFTY
Buy BankNifty Future above 10550 - 10595 - 10685 - 10745 SL - 10527
Sell BankNifty Future below 10494 - 10455 - 10400 - 10315 SL - 10548

INTRADAY TRADE
Reliance Industries: Buy above 726 for targets of 728, 731, 736 SL 721
Reliance Industries: Sell below 720 for targets of 718, 715, 710 SL 725
Maruti: Buy above 1150 for targets of 1160, 1180 SL 1128
KtkBank: Buy above 102.5 for targets of 104, 106 SL 100.70

SCORE SHEET
Cairn: Buy above 325 for targets of 328, 335 SL 321: Target 329.35 done
DishTv: Buy above 71.3 for targets of 72, 73.6 SL 70.5: Target 71.95 done

POSITIONAL TRADE
Dabur: Buy above 119 for target of 123 SL 115.6 (2-3 Days)
Orchidchem: Buy above 128 for target of 140 SL 124 (1 Week)

Thanks and Regards

S&P Wealth Creators