Market outlook for 24/01/2013

Nifty closed up 5.80 points (0.10%) at 6054.30 while Nifty Future closed at 6069.15, premium of 14.85 points.
Bank Nifty closed up 60.85 points (0.48%) at 12635.20 while Future closed at 12668.70, premium of 33.50 points.

• FII bought in Cash (Net buy 802.62 Crore)
• FII bought in index option but sold in index future, stock future (Net buy 621.27 Crore)
• DII sold in Cash (Net sell 852.33 Crore)
• Most Active Nifty Call Option: 6000 and 6100.
• Most Active Nifty Put Options: 6100 and 6000.
• Advance Decline for the day was 419:1101.

NIFTY TECHNICAL

Current Spot: 6054.30
Pivot: 6048
5DEMA: 6051
10DEMA: 6034
20DEMA: 5997
50DEMA: 5907
RSI (14 days): 61.16
Parabolic SAR: 6021
Supports: 6027 - 6000 - 5978
Resistance: 6076 - 6097 - 6124

Nifty Future VIX Range: 6030 - 6109
Nifty Future VWAP: 6057.93
MP Values Nifty Future: VAH - 6066, POC - 6048, VAL - 6030

TARGET NIFTY
Buy Nifty Future above 6074 - 6085 - 6105 - 6135 SL - 6048
Sell Nifty Future below 6047 - 6040 - 6015 - 5990 SL – 6066

BANKNIFTY TECHNICAL

Current Spot: 12635.20
Pivot: 12614
5DEMA: 12641
10DEMA: 12659
20DEMA: 12616
50DEMA: 12353
RSI (14 days): 53.97
Parabolic SAR: 12900
Supports: 12531 - 12427 - 12345
Resistance: 12718 - 12800 - 12904

Bank Nifty Future VIX Range: 12560 - 12778
Bank Nifty Future VWAP: 12622.09
MP Values Bank Nifty Future: VAH - 12680, POC - 12628, VAL - 12576

TARGET BANKNIFTY
Buy BankNifty Future above 12680 - 12745 - 12840 - 12950 SL - 12628
Sell BankNifty Future below 12620 - 12555 - 12440 - 12350 SL - 12645

INTRADAY TRADE
Reliance Industries: Buy above 925 for targets of 932, 939 SL 920
Reliance Industries: Sell below 918 for targets of 914, 906 SL 925
SunTv: Buy above 440 for targets of 444, 450 SL 436
Tatapower: Buy above 110.5 for targets of 111.5, 113 SL 108.5

SCORE SHEET
Asianpaint: Buy above 4424 for targets of 4464, 4525 SL 4382: Target 4489.75 done
Irb: Buy above 130.4 for targets of 132, 135 SL 129.4: Target 131.45 done

POSITIONAL TRADE
Pcjeweller: Buy above 162 for target of 167 SL 159.5 (2-3 Days)
Zeel: Buy above 235 for target of 252 SL 229 (1 Week)

Thanks and Regards

S&P Wealth Creators