Market outlook for 22/01/2014

Nifty closed up 9.85 points (0.16%) at 6313.80 while Nifty Future closed at 6326.40, premium of 12.60 points.
Bank Nifty closed up 164.00 points (1.49%) at 11171.50 while Future closed at 11189.20, premium of 17.70 points.

• FII sold in Cash (Net sell 43.74 Crore)
• FII sold in index option, stock future but bought in index future (Net sell 193.64 Crore)
• DII bought in Cash (Net buy 181.50 Crore)
• Most Active Nifty Call Option: 6300 and 6400.
• Most Active Nifty Put Options: 6300 and 6200.
• Advance Decline for the day was 725:704.
• McClellan's oscillator for NSE at -30.

NIFTY TECHNICAL

Current Spot: 6313.80
Pivot: 6314
5DEMA: 6293
10DEMA: 6273
20DEMA: 6254
50DEMA: 6227
RSI (14 days): 57.35
Parabolic SAR: 6152
Supports: 6298 - 6282 - 6265
Resistance: 6330 - 6346 - 6363

Nifty Future VIX Range: 6273 - 6385
Nifty Future VWAP: 6324.14
MP Values Nifty Future: VAH - 6335, POC - 6327, VAL - 6319

TARGET NIFTY
Buy Nifty Future above 6329 - 6335 - 6355 - 6385 SL - 6318
Sell Nifty Future below 6315 - 6205 - 6285 - 6260 SL - 6328

BANKNIFTY TECHNICAL

Current Spot: 11171.50
Pivot: 11133
5DEMA: 11060
10DEMA: 11061
20DEMA: 11115
50DEMA: 11143
RSI (14 days): 51.27
Parabolic SAR: 10842
Supports: 11075 - 10979 - 10922
Resistance: 11229 - 11286 - 11383

Bank Nifty Future VIX Range: 11042 - 11368
Bank Nifty Future VWAP: 11147.56
MP Values Bank Nifty Future: VAH - 11179, POC - 11146, VAL - 11113

TARGET BANKNIFTY
Buy BankNifty Future above 11198 - 11245 - 11305 - 11400 SL - 11144
Sell BankNifty Future below 11133 - 11095 - 10995 - 10935 SL - 11180

INTRADAY TRADE
Reliance: Buy above 871 for targets of 874, 880 SL 864
Reliance: Sell below 859 for targets of 856, 849 SL 868
Finantech: Buy above 326 for targets of 329, 337 SL 323
Infotecent: Buy above 384 for targets of 388, 395 SL 378

SCORE SHEET
Niittech: Buy above 415 for targets of 419, 429 SL 408: Target 421.95 done
Granules: Buy above 207 for targets of 210, 215 SL 204: Target 227.40 done

POSITIONAL TRADE
Jetairways: Buy above 282 for target of 294 SL 277 (2-3 Days)
Orbitcorp: Buy above 18.8 for target of 20.5 SL 18.3 (1 Week)

Thanks and Regards

MarketPulse S&P