Market outlook for 16/05/2014

Nifty closed up 14.40 points (0.20%) at 7123.15 while Future closed at 7143.10, premium of 19.95 points.
Bank Nifty closed up 29.45 points (0.21%) at 14236.55 while Future closed at 14300.35, premium of 63.80 points.

• FII bought in Cash (Net buy 934.94 Crore)
• FII sold in index option, stock future but bought in index future (Net sell 2744.73 Crore)
• DII sold in Cash (Net sell 385.40 Crore)
• Most Active Nifty Call Option: 7500 and 8000.
• Most Active Nifty Put Options: 6700 and 6500.
• Advance Decline for the day was 533:986.
• McClellan's oscillator for NSE at -10.

NIFTY TECHNICAL

Current Spot: 7123.15
Pivot: 7119
5DEMA: 7032
10DEMA: 6934
20DEMA: 6842
50DEMA: 6665
RSI (14 days): 77.04
Parabolic SAR: 6726
Supports: 7086 - 7049 - 7016
Resistance: 7156 - 7189 - 7226

Nifty Future VIX Range: 7071 - 7219
Nifty Future VWAP: 7141.41
MP Values Nifty Future: VAH - 7153, POC - 7138, VAL - 7123

TARGET NIFTY
Buy Nifty Future above 7151 - 7175 - 7210 - 7245 SL - 7140
Sell Nifty Future below 7129 - 7110 - 7080 - 7045 SL - 7149

BANKNIFTY TECHNICAL

Current Spot: 14236.55
Pivot: 14232
5DEMA: 14005
10DEMA: 13691
20DEMA: 13327
50DEMA: 12606
RSI (14 days): 81.81
Parabolic SAR: 13489
Supports: 14163 - 14090 - 14021
Resistance: 14306 - 14375 - 14448

Bank Nifty Future VIX Range: 14041 - 14504
Bank Nifty Future VWAP: 14306.13
MP Values Bank Nifty Future: VAH - 14321, POC - 14294, VAL - 14267

TARGET BANKNIFTY
Buy BankNifty Future above 14324 - 14370 - 14440 - 14590 SL - 14299
Sell BankNifty Future below 14279 - 14245 - 14180 - 14100 SL - 14321

INTRADAY TRADE
Nilkamal: Buy above 238 for targets of 241, 248 SL 234
Apollotyre: Buy above 179 for targets of 182, 190 SL 175

SCORE SHEET
BgrEnergy: Buy above 178 for targets of 181, 187 SL 173: Call not Active
BankBaroda: Buy above 965 for targets of 974, 994 SL 948: Call not Active

POSITIONAL TRADE
Pnb: Buy above 859 for target of 875 SL 847 (2-3 Days)
Ace: Buy above 22.5 for target of 24 SL 21.7 (1 Week)

Thanks and Regards

MarketPulse S&P