Market outlook for 22/05/2014

Nifty closed down 22.60 points (0.31%) at 7252.90 while Future closed at 7280.00, premium of 27.10 points.
Bank Nifty closed down 159.10 points (1.05%) at 14952.10 while Future closed at 15036.55, premium of 84.45 points.

• FII sold in Cash (Net sell 266.22 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 589.07 Crore)
• DII sold in Cash (Net sell 439.03 Crore)
• Most Active Nifty Call Option: 7300 and 7400.
• Most Active Nifty Put Options: 7300 and 7200.
• Advance Decline for the day was 1113:452.
• McClellan's oscillator for NSE at +61.

NIFTY TECHNICAL

Current Spot: 7252.90
Pivot: 7249
5DEMA: 7211
10DEMA: 7110
20DEMA: 6977
50DEMA: 6759
RSI (14 days): 79.01
Parabolic SAR: 6950
Supports: 7211 - 7168 - 7088
Resistance: 7291 - 7329 - 7410

Nifty Future VIX Range: 7203 - 7345
Nifty Future VWAP: 7279.48
MP Values Nifty Future: VAH - 7305, POC - 7284, VAL - 7263

TARGET NIFTY
Buy Nifty Future above 7285 - 7310 - 7345 - 7390 SL - 7263
Sell Nifty Future below 7262 - 7240 - 7205 - 7165 SL - 7281

BANKNIFTY TECHNICAL

Current Spot: 15111.20
Pivot: 14979
5DEMA: 14831
10DEMA: 14434
20DEMA: 13891
50DEMA: 12985
RSI (14 days): 78.28
Parabolic SAR: 14594
Supports: 14831 - 14710 - 14441
Resistance: 15100 - 15248 - 15517

Bank Nifty Future VIX Range: 14733 - 15287
Bank Nifty Future VWAP: 15066.56
MP Values Bank Nifty Future: VAH - 15118, POC - 15043, VAL - 14968

TARGET BANKNIFTY
Buy BankNifty Future above 15085 - 15195 - 15350 - 15505 SL - 15043
Sell BankNifty Future below 15014 - 14905 - 14780 - 14600 SL - 15084

INTRADAY TRADE
Torntpower: Buy above 160 for targets of 163, 170 SL 155
Riil: Buy above 585 for targets of 592, 605 SL 577

SCORE SHEET
Aban: Buy above 690 for targets of 700, 720 SL 675: Target 706.00 done
Tatacomm: Buy above 337 for targets of 341, 350 SL 329: Target 345.15 done

POSITIONAL TRADE
Apollotyre: Buy above 184 for target of 192 SL 180 (2-3 Days)
Renuka: Buy above 24.4 for target of 26.5 SL 23.9 (1 Week)

Thanks and Regards

MarketPulse S&P