Market outlook for 24/01/2014

Nifty closed up 6.70 points (0.11%) at 6345.65 while Nifty Future closed at 6357.80, premium of 12.15 points.
Bank Nifty closed down 8.35 points (0.07%) at 11199.00 while Future closed at 11204.65, premium of 5.65 points.

• FII bought in Cash (Net buy 433.60 Crore)
• FII sold in index option, stock future but bought in index future (Net sell 905.79 Crore)
• DII sold in Cash (Net sell 393.68 Crore)
• Most Active Nifty Call Option: 6300 and 6400.
• Most Active Nifty Put Options: 6300 and 6200.
• Advance Decline for the day was 612:825.
• McClellan's oscillator for NSE at -26.

NIFTY TECHNICAL

Current Spot: 6345.65
Pivot: 6339
5DEMA: 6321
10DEMA: 6296
20DEMA: 6270
50DEMA: 6234
RSI (14 days): 60.13
Parabolic SAR: 6164
Supports: 6323 - 6300 - 6284
Resistance: 6362 - 6378 - 6401

Nifty Future VIX Range: 6306 - 6414
Nifty Future VWAP: 6348.04
MP Values Nifty Future: VAH - 6360, POC - 6347, VAL - 6334

TARGET NIFTY
Buy Nifty Future above 6361 - 6372 - 6395 - 6430 SL - 6347
Sell Nifty Future below 6345 - 6334 - 6315 - 6280 SL - 6360

BANKNIFTY TECHNICAL

Current Spot: 11199.00
Pivot: 11181
5DEMA: 11139
10DEMA: 11108
20DEMA: 11131
50DEMA: 11154
RSI (14 days): 52.02
Parabolic SAR: 10882
Supports: 11141 - 11082 - 11042
Resistance: 11239 - 11280 - 11338

Bank Nifty Future VIX Range: 11046 - 11352
Bank Nifty Future VWAP: 11199.62
MP Values Bank Nifty Future: VAH - 11216, POC - 11195, VAL - 11174

TARGET BANKNIFTY
Buy BankNifty Future above 11216 - 11265 - 11320 - 11420 SL - 11189
Sell BankNifty Future below 11174 - 11130 - 11075 - 10975 SL - 11212

INTRADAY TRADE
Reliance: Buy above 871 for targets of 874, 880 SL 866
Reliance: Sell below 864 for targets of 861, 854 SL 870
Sbin: Buy above 1662 for targets of 1672, 1688 SL 1646
Bhel: Buy above 172 for targets of 174, 177 SL 170

SCORE SHEET
Centurytex: Buy above 327 for targets of 330, 337 SL 322: Target 328.90 done
Kajariacer: Buy above 313 for targets of 316, 322 SL 308: Target 318.00 done

POSITIONAL TRADE
Ucobank: Buy above 78 for target of 81.6 SL 76.4 (2-3 Days)
Titan: Buy above 226 for target of 235 SL 222 (1 Week)

Thanks and Regards

MarketPulse S&P