Market outlook for 17/09/2012

Nifty closed up 142.30 points (2.62%) at 5577.65 while Nifty Future closed at 5584.90, premium of 7.25 points.
Bank Nifty closed up 435.10 points (4.26%) at 10642.90 while Future closed at 10650.85, premium of 7.95 points.

• FII bought in Cash (Net buy 2833.72 Crore)
• FII bought in index future, index option, stock future (Net buy 2382.76 Crore)
• DII sold in Cash (Net sell 688.00 Crore)
• Most Active Nifty Call Option: 5600 and 5700.
• Most Active Nifty Put Options: 5500 and 5300.
• Advance Decline for the day was 806:679.

NIFTY TECHNICAL

Current Spot: 5577.65
Pivot: 5564
5DEMA: 5456
10DEMA: 5402
20DEMA: 5361
50DEMA: 5302
RSI (14 days): 74.33
Parabolic SAR: 5309
Supports: 5541 - 55504 - 5481
Resistance: 5601 - 5623 - 5660

Nifty Future VIX Range: 5531 - 5639
Nifty Future VWAP: 5571.14
MP Values Nifty Future: VAH - 5595, POC - 5575, VAL - 5555

TARGET NIFTY
Buy Nifty Future above 5595 - 5610 - 5635 - 5670 SL - 5574
Sell Nifty Future below 5555 - 5540 - 5515 - 5480 SL - 5576

BANKNIFTY TECHNICAL

Current Spot: 10642.90
Pivot: 10572
5DEMA: 10312
10DEMA: 10215
20DEMA: 10202
50DEMA: 10241
RSI (14 days): 65.76
Parabolic SAR: 9939
Supports: 10479 - 10316 - 10223
Resistance: 10736 - 10828 - 10992

Bank Nifty Future VIX Range: 10500 - 10802
Bank Nifty Future VWAP: 10590.64
MP Values Bank Nifty Future: VAH - 10672, POC - 10560, VAL - 10448

TARGET BANKNIFTY
Buy BankNifty Future above 10675 - 10780 - 10890 - 11005 SL - 10652
Sell BankNifty Future below 10635 - 10550 - 10450 - 10335 SL - 10672

INTRADAY TRADE
Reliance Industries: Buy above 844 for targets of 848, 857, 870 SL 830
Reliance Industries: Sell below 828 for targets of 824, 815, 802 SL 834
YesBank: Buy above 358 for targets of 362, 369 SL 352
Jindalstel: Buy above 376 for targets of 380, 388 SL 369

SCORE SHEET
Finantech: Buy above 912 for targets of 921, 936 SL 897: Target 927.70 done
Denabank: Buy above 93.8 for targets of 94.5, 96 SL 91.5: Target 96.50 done

POSITIONAL TRADE
Adanient: Buy above 190 for target of 198 SL 185 (2-3 Days)
Idfc: Buy above 139 for target of 148 SL 136 (1 Week)

Thanks and Regards

S&P Wealth Creators