Market outlook for 24/09/2012

Nifty closed up 136.90 points (2.46%) at 5691.15 while Nifty Future closed at 5707.05, premium of 15.90 points.
Bank Nifty closed up 437.70 points (4.01%) at 11358.50 while Future closed at 11395.40, premium of 36.90 points.

• FII bought in Cash (Net buy 2327.82 Crore)
• FII sold in index future, index option, stock future (Net sell 2816.85 Crore)
• DII sold in Cash (Net sell 1127.28 Crore)
• Most Active Nifty Call Option: 5700 and 5800.
• Most Active Nifty Put Options: 5600 and 5500.
• Advance Decline for the day was 1057:467.

NIFTY TECHNICAL

Current Spot: 5691.15
Pivot: 5662
5DEMA: 5593
10DEMA: 5522
20DEMA: 5445
50DEMA: 5349
RSI (14 days): 75.11
Parabolic SAR: 5488
Supports: 5604 - 5518 - 5460
Resistance: 5749 - 5807 - 5894

Nifty Future VIX Range: 5646 - 5768
Nifty Future VWAP: 5681.55
MP Values Nifty Future: VAH - 5735, POC - 5708, VAL - 5666

TARGET NIFTY
Buy Nifty Future above 5711 - 5760 - 5815 - 5905 SL - 5666
Sell Nifty Future below 5665 - 5620 - 5535 - 5475 SL - 5708

BANKNIFTY TECHNICAL

Current Spot: 11358.50
Pivot: 11255
5DEMA: 10971
10DEMA: 10705
20DEMA: 10494
50DEMA: 10366
RSI (14 days): 75.42
Parabolic SAR: 10456
Supports: 11077 - 10795 - 10617
Resistance: 11537 - 11715 - 11997

Bank Nifty Future VIX Range: 11196 - 11595
Bank Nifty Future VWAP: 11284.57
MP Values Bank Nifty Future: VAH - 11463, POC - 11370, VAL - 11251

TARGET BANKNIFTY
Buy BankNifty Future above 11404 - 11520 - 11650 - 11860 SL - 10251
Sell BankNifty Future below 11250 - 11105 - 10830 - 10705 SL - 10305

INTRADAY TRADE
Reliance Industries: Buy above 852 for targets of 855, 860, 868 SL 844
Reliance Industries: Sell below 841 for targets of 838, 833, 825 SL 848
Bhel: Buy above 234 for targets of 237, 242 SL 229
HdfcBank: Buy above 628 for targets of 633, 640 SL 619

SCORE SHEET
Zeel: Buy above 186 for targets of 188, 192 SL 183.5: Target 188 done
Adanient: Buy above 201 for targets of 203, 208 SL 197: Target 204.50 done

POSITIONAL TRADE
RelInfra: Buy above 547 for target of 582 SL 530 (2-3 Days)
Ncc: Buy above 46 for target of 50 SL 44.3 (1 Week)

Thanks and Regards

S&P Wealth Creators