Market outlook for 24/12/2013

Nifty closed up 10.25 points (0.16%) at 6284.50 while Nifty Future closed at 6302.35, premium of 17.85 points.
Bank Nifty closed up 86.15 points (0.76%) at 11378.50 while Future closed at 11415.65, premium of 37.15 points.

• FII bought in Cash (Net buy 135.42 Crore)
• FII bought in index future, stock future and in index option (Net buy 650.35 Crore)
• DII bought in Cash (Net buy 38.35 Crore)
• Most Active Nifty Call Option: 6300 and 6400.
• Most Active Nifty Put Options: 6300 and 6200.
• Advance Decline for the day was 902:476.
• McClellan's oscillator for NSE at +16.

NIFTY TECHNICAL

Current Spot: 6284.50
Pivot: 6290
5DEMA: 6239
10DEMA: 6225
20DEMA: 6206
50DEMA: 6147
RSI (14 days): 57.08
Parabolic SAR: 6353
Supports: 6262 - 6239 - 6211
Resistance: 6312 - 6340 - 6363

Nifty Future VIX Range: 6235 - 6372
Nifty Future VWAP: 6311.93
MP Values Nifty Future: VAH - 6320, POC - 6312, VAL - 6304

TARGET NIFTY
Buy Nifty Future above 6313 - 6325 - 6245 - 6370 SL - 6304
Sell Nifty Future below 6293 - 6285 - 6265 - 6240 SL - 6312

BANKNIFTY TECHNICAL

Current Spot: 11378.50
Pivot: 11364
5DEMA: 11322
10DEMA: 11359
20DEMA: 11325
50DEMA: 11085
RSI (14 days): 52.46
Parabolic SAR: 11932
Supports: 11274 - 11169 - 11079
Resistance: 11468 - 11558 - 11663

Bank Nifty Future VIX Range: 11190 - 11630
Bank Nifty Future VWAP: 11438.04
MP Values Bank Nifty Future: VAH - 11500, POC - 11456, VAL - 11411

TARGET BANKNIFTY
Buy BankNifty Future above 11424 - 11505 - 11600 - 11705 SL - 11400
Sell BankNifty Future below 11386 - 11320 - 11215 - 11120 SL - 11414

INTRADAY TRADE
Reliance: Buy above 903 for targets of 907, 915 SL 896
Reliance: Sell below 892 for targets of 888, 881 SL 901
Riil: Buy above 378 for targets of 382, 388 SL 373
JswSteel: Buy above 990 for targets of 998, 1012 SL 979

SCORE SHEET
Tataglobal: Buy above 154 for targets of 155.5, 158 SL 151: Target 156.50 done
Pfc: Buy above 162 for targets of 164, 168 SL 159: Target 165.10 done

POSITIONAL TRADE
Sksmicro: Buy above 203 for target of 216 SL 197 (2-3 Days)
Nocil: Buy above 15.4 for target of 16.5 SL 14.9 (1 Week)

Thanks and Regards

MarketPulse S&P