Market outlook for 23/01/2014

Nifty closed up 25.15 points (0.40%) at 6338.95 while Nifty Future closed at 6353.00, premium of 14.05 points.
Bank Nifty closed up 35.85 points (0.32%) at 11207.35 while Future closed at 11223.25, premium of 15.90 points.

• FII bought in Cash (Net buy 279.45 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 232.12 Crore)
• DII sold in Cash (Net sell 90.57 Crore)
• Most Active Nifty Call Option: 6300 and 6400.
• Most Active Nifty Put Options: 6300 and 6200.
• Advance Decline for the day was 755:661.
• McClellan's oscillator for NSE at -22.

NIFTY TECHNICAL

Current Spot: 6338.95
Pivot: 6325
5DEMA: 6308
10DEMA: 6285
20DEMA: 6262
50DEMA: 6231
RSI (14 days): 59.51
Parabolic SAR: 6156
Supports: 6301 - 6263 - 6238
Resistance: 6363 - 6388 - 6426

Nifty Future VIX Range: 6290 - 6400
Nifty Future VWAP: 6332.96
MP Values Nifty Future: VAH - 6354, POC - 6330, VAL - 6306

TARGET NIFTY
Buy Nifty Future above 6356 - 6375 - 6405 - 6450 SL - 6329
Sell Nifty Future below 6327 - 6210 - 6280 - 6240 SL - 6354

BANKNIFTY TECHNICAL

Current Spot: 11207.35
Pivot: 11184
5DEMA: 11109
10DEMA: 11087
20DEMA: 11124
50DEMA: 11146
RSI (14 days): 52.38
Parabolic SAR: 10858
Supports: 11119 - 11030 - 10965
Resistance: 11272 - 11337 - 11426

Bank Nifty Future VIX Range: 11034 - 11350
Bank Nifty Future VWAP: 11202.46
MP Values Bank Nifty Future: VAH - 11234, POC - 11197, VAL - 11160

TARGET BANKNIFTY
Buy BankNifty Future above 11235 - 11285 - 11350 - 11445 SL - 11191
Sell BankNifty Future below 11185 - 11140 - 11045 - 10985 SL - 11234

INTRADAY TRADE
Reliance: Buy above 875 for targets of 880, 889 SL 866
Reliance: Sell below 864 for targets of 859, 850 SL 872
Centurytex: Buy above 327 for targets of 330, 337 SL 322
Kajariacer: Buy above 313 for targets of 316, 322 SL 308

SCORE SHEET
Finantech: Buy above 326 for targets of 329, 337 SL 323: Call not active
Infotecent: Buy above 384 for targets of 388, 395 SL 378: Target 387.00 done

POSITIONAL TRADE
Justdial: Buy above 1700 for target of 1785 SL 1677 (2-3 Days)
Siticable: Buy above 22.2 for target of 25 SL 21.6 (1 Week)

Thanks and Regards

MarketPulse S&P