Thursday, May 23, 2013

Market outlook for 24/05/2013

Nifty closed down 127.45 points (2.09%) at 5967.05 while Nifty Future closed at 5966.10, discount of 0.95 points.
Bank Nifty closed down 371.75 points (2.86%) at 12636.50 while Future closed at 12592.05, discount of 44.45 points.
  • FII bought in Cash (Net buy 316.23 Crore)
  • FII bought in index option, stock future but sold in index future (Net buy 747.51 Crore)
  • DII sold in Cash (Net sell 538.75 Crore)
  • Most Active Nifty Call Option: 6000 and 6100.
  • Most Active Nifty Put Options: 6000 and 5900.
  • Advance Decline for the day was 196:1108.
NIFTY TECHNICAL
Current Spot: 5967.05
Pivot: 6001
5DEMA: 6068
10DEMA: 6229
20DEMA: 6020
50DEMA: 5913
RSI (14 days): 48.72
Parabolic SAR: 6229
Supports: 5921 - 5876 - 5796
Resistance: 6047 - 6127 - 6173
Nifty Future VIX Range: 5903 - 6037
Nifty Future VWAP: 6001.46
MP Values Nifty Future: VAH - 6021, POC - 5990, VAL - 5959

TARGET NIFTY
Buy Nifty Future above 5991 - 6010 - 6045 - 6090 SL - 5959
Sell Nifty Future below 5956 - 5935 - 5900 - 5855 SL - 5990

BANKNIFTY TECHNICAL
Current Spot: 12636.50
Pivot: 12725
5DEMA: 12920
10DEMA: 12905
20DEMA: 12723
50DEMA: 12336
RSI (14 days): 50.90
Parabolic SAR: 13414
Supports: 12506 - 12376 - 12157
Resistance: 12855 - 13074 - 13204
Bank Nifty Future VIX Range: 12406 - 12812
Bank Nifty Future VWAP: 12685.70
MP Values Bank Nifty Future: VAH - 12724, POC - 12620, VAL - 12545

TARGET BANKNIFTY
Buy BankNifty Future above 12685 - 12765 - 12865 - 13000 SL - 12620
Sell BankNifty Future below 12573 - 12495 - 12395 - 12270 SL - 12680

INTRADAY TRADE
Reliance: Buy above 797 for targets of 803, 813 SL 792
Reliance: Sell below 785 for targets of 779, 769 SL 795
TataMotors: Buy above 292 for targets of 294, 297 SL 289
Glenmark: Buy above 574 for targets of 578, 586 SL 569

SCORE SHEET
Bergepaint: Buy above 251 for targets of 253, 258 SL 247: Target 255.00 done
Castrol: Buy above 345 for targets of 348, 353 SL 339: SL Hit

POSITIONAL TRADE
Zeel: Buy above 245 for target of 254 SL 241 (2-3 Days)
Voltas: Buy above 84.5 for target of 88 SL 83 (1 Week)

Thanks and Regards

S&P Wealth Creators

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