Market outlook for 23/10/2012

Nifty closed up 32.90 points (0.58%) at 5717.15 while Nifty Future closed at 5724.75, premium of 7.60 points.
Bank Nifty closed up 116.20 points (1.01%) at 11607.40 while Future closed at 11620.70, premium of 13.30 points.

• FII bought in Cash (Net buy 241.68 Crore)
• FII bought in index future, stock future but sold in index option (Net buy 429.35 Crore)
• DII sold in Cash (Net sell 137.89 Crore)
• Most Active Nifty Call Option: 5700 and 5800.
• Most Active Nifty Put Options: 5700 and 5600.
• Advance Decline for the day was 705:792.

NIFTY TECHNICAL

Current Spot: 5717.15
Pivot: 5699
5DEMA: 5696
10DEMA: 5690
20DEMA: 5660
50DEMA: 5533
RSI (14 days): 59.46
Parabolic SAR: 4921
Supports: 5676 - 5635 - 5613
Resistance: 5740 - 5762 - 5803

Nifty Future VIX Range: 5674 - 5775
Nifty Future VWAP: 5702.40
MP Values Nifty Future: VAH - 5730, POC - 5714, VAL - 5697

TARGET NIFTY
Buy Nifty Future above 5730 - 5745 - 5765 - 5800 SL - 5712
Sell Nifty Future below 5697 - 5685 - 5650 - 5625 SL - 5715

BANKNIFTY TECHNICAL

Current Spot: 11607.40
Pivot: 11549
5DEMA: 11511
10DEMA: 11461
20DEMA: 11326
50DEMA: 10961
RSI (14 days): 64.25
Parabolic SAR: 10137
Supports: 11478 - 11349 - 11278
Resistance: 11678 - 11749 - 11878

Bank Nifty Future VIX Range: 11469 - 11772
Bank Nifty Future VWAP: 11565.92
MP Values Bank Nifty Future: VAH - 11634, POC - 11602, VAL - 11531

TARGET BANKNIFTY
Buy BankNifty Future above 11635 - 11680 - 11750 - 11860 SL - 11585
Sell BankNifty Future below 11530 - 11490 - 11385 - 11320 SL - 11602

INTRADAY TRADE
Reliance Industries: Buy above 818 for targets of 821, 826, 835 SL 809
Reliance Industries: Sell below 805 for targets of 802, 797, 788 SL 811
IndiaBulls: Buy above 240 for targets of 243, 248 SL 235
JswSteel: Buy above 753 for targets of 759, 769 SL 744

SCORE SHEET
Gitanjali: Buy above 396 for targets of 400, 408 SL 391: Target 399.60 done
GmdcLtd: Buy above 214 for targets of 217, 221 SL 212: Target 216.95 done

POSITIONAL TRADE
Atul: Buy above 442 for target of 472 SL 430 (2-3 Days)
Jktyre: Buy above 121 for target of 131 SL 117 (1 Week)

Thanks and Regards

S&P Wealth Creators