Market outlook for 29/01/2014

Nifty closed down 9.60 points (0.16%) at 6126.25 while Nifty Future closed at 6139.40, premium of 13.15 points.
Bank Nifty closed down 32.80 points (0.31%) at 10507.60 while Future closed at 10522.45, premium of 14.85 points.

• FII sold in Cash (Net sell 1267.35 Crore)
• FII sold in index option, stock future but bought small in index future (Net sell 574.90 Crore)
• DII bought in Cash (Net buy 1178.81 Crore)
• Most Active Nifty Call Option: 6100 and 6200.
• Most Active Nifty Put Options: 6100 and 6000.
• Advance Decline for the day was 709:673.
• McClellan's oscillator for NSE at -62.

NIFTY TECHNICAL

Current Spot: 6126.25
Pivot: 6125
5DEMA: 6207
10DEMA: 6238
20DEMA: 6244
50DEMA: 6222
RSI (14 days): 39.27
Parabolic SAR: 6350
Supports: 6087 - 6048 - 6009
Resistance: 6165 - 6203 - 6242

Nifty Future VIX Range: 6083 - 6201
Nifty Future VWAP: 6132.98
MP Values Nifty Future: VAH - 6154, POC - 6130, VAL - 6106

TARGET NIFTY
Buy Nifty Future above 6144 - 6170 - 6205 - 6250 SL - 6129
Sell Nifty Future below 6123 - 6100 - 6065 - 6020 SL - 6139

BANKNIFTY TECHNICAL

Current Spot: 10507.60
Pivot: 10516
5DEMA: 10772
10DEMA: 10899
20DEMA: 11009
50DEMA: 11091
RSI (14 days): 33.99
Parabolic SAR: 11230
Supports: 10325 - 10142 - 9950
Resistance: 10699 - 10891 - 11074

Bank Nifty Future VIX Range: 10370 - 10716
Bank Nifty Future VWAP: 10497.11
MP Values Bank Nifty Future: VAH - 10710, POC - 10636, VAL - 10452

TARGET BANKNIFTY
Buy BankNifty Future above 10534 - 10635 - 10710 - 10900 SL - 10509
Sell BankNifty Future below 10505 - 10450 - 10345 - 10205 SL - 10531

INTRADAY TRADE
Reliance: Buy above 852 for targets of 857, 866 SL 846
Reliance: Sell below 841 for targets of 836, 829 SL 850
TataElxsi: Buy above 395 for targets of 400, 409 SL 391
Finantech: Buy above 287 for targets of 290, 298 SL 283

SCORE SHEET
Glenmark: Buy above 539 for targets of 545, 559 SL 532: Target 560.00 done
Hindunilvr: Buy above 579 for targets of 585, 598 SL 570: SL Hit

POSITIONAL TRADE
Granules: Buy above 229 for target of 243 SL 222 (2-3 Days)
Nhpc: Buy above 17.9 for target of 19 SL 17.7 (1 Week)

Thanks and Regards

MarketPulse S&P