Sunday, March 23, 2014

Market outlook for 24/03/2014

Nifty closed up 10.10 points (0.16%) at 6493.20 while Nifty Future closed at 6510.70, premium of 17.50 points.
Bank Nifty closed up 75.10 points (0.62%) at 12092.35 while Future closed at 12124.60, premium of 32.25 points.
  • FII bought huge in Cash (Net buy 4222.10 Crore)
  • FII sold in index future, stock future but bought in index option (Net sell 783.75 Crore)
  • DII sold huge in Cash (Net sell 4076.60 Crore)
  • Most Active Nifty Call Option: 6500 and 6600.
  • Most Active Nifty Put Options: 6500 and 6400.
  • Advance Decline for the day was 875:597.
  • McClellan's oscillator for NSE at +14.
NIFTY TECHNICAL
Current Spot: 6493.20
Pivot: 6501
5DEMA: 6497
10DEMA: 6472
20DEMA: 6397
50DEMA: 6299
RSI (14 days): 65.72
Parabolic SAR: 6473
Supports: 6478 - 6463 - 6441
Resistance: 6516 - 6538 - 6553
Nifty Future VIX Range: 6461 - 6557
Nifty Future VWAP: 6518.86
MP Values Nifty Future: VAH - 6529, POC - 6522, VAL - 6515

TARGET NIFTY
Buy Nifty Future above 6523 - 6525 - 6545 - 6570 SL - 6515
Sell Nifty Future below 6501 - 6490 - 6470 - 6445 SL - 6522

BANKNIFTY TECHNICAL
Current Spot: 12092.35
Pivot: 12086
5DEMA: 12068
10DEMA: 11915
20DEMA: 11571
50DEMA: 11200
RSI (14 days): 70.36
Parabolic SAR: 11990
Supports: 12049 - 12007 - 11970
Resistance: 12129 - 12166 - 12209
Bank Nifty Future VIX Range: 11930 - 12310
Bank Nifty Future VWAP: 12127.59
MP Values Bank Nifty Future: VAH - 12146, POC - 12128, VAL - 12110

TARGET BANKNIFTY
Buy BankNifty Future above 12146 - 12170 - 12220 - 11270 SL - 12123
Sell BankNifty Future below 12107 - 12085 - 12040 - 11985 SL - 12141

INTRADAY TRADE
Adanient: Buy above 327 for targets of 330, 335 SL 322
Dlf: Buy above 171.5 for targets of 173, 176 SL 169

SCORE SHEET
Mcdowell-n: Buy above 2628 for targets of 2650, 2685 SL 2600: Target 2684.40 done
Nucleus: Buy above 227 for targets of 229, 235 SL 224: Target 231.70 done

POSITIONAL TRADE
TataSteel: Buy above 364 for target of 378 SL 359 (2-3 Days)
Ashokley: Buy above 18.5 for target of 20.0 SL 18.2 (1 Week)

Thanks and Regards

MarketPulse S&P

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