Market outlook for 23/05/2014

Nifty closed up 23.50 points (0.32%) at 7276.40 while Future closed at 7293.70, premium of 17.30 points.
Bank Nifty closed up 103.45 points (0.69%) at 15055.55 while Future closed at 15120.40, premium of 64.85 points.

• FII sold in Cash (Net sell 294.99 Crore)
• FII sold in stock future but bought in index future, index option (Net sell 8.98 Crore)
• DII bought in Cash (Net buy 203.07 Crore)
• Most Active Nifty Call Option: 7300 and 7400.
• Most Active Nifty Put Options: 7300 and 7200.
• Advance Decline for the day was 1197:373.
• McClellan's oscillator for NSE at +77.

NIFTY TECHNICAL

Current Spot: 7276.40
Pivot: 7285
5DEMA: 7233
10DEMA: 7140
20DEMA: 7005
50DEMA: 6782
RSI (14 days): 79.77
Parabolic SAR: 7000
Supports: 7250 - 7223 - 7188
Resistance: 7311 - 7346 - 7373

Nifty Future VIX Range: 7223 - 7361
Nifty Future VWAP: 7308.67
MP Values Nifty Future: VAH - 7318, POC - 7300, VAL - 7282

TARGET NIFTY
Buy Nifty Future above 7309 - 7325 - 7355 - 7380 SL - 7299
Sell Nifty Future below 7282 - 7265 - 7250 - 7215 SL - 7308

BANKNIFTY TECHNICAL

Current Spot: 15055.55
Pivot: 15066
5DEMA: 14906
10DEMA: 14547
20DEMA: 14002
50DEMA: 13079
RSI (14 days): 80.14
Parabolic SAR: 14777
Supports: 14928 - 14800 - 14662
Resistance: 15194 - 15332 - 15460

Bank Nifty Future VIX Range: 14831 - 15373
Bank Nifty Future VWAP: 15154.84
MP Values Bank Nifty Future: VAH - 15236, POC - 15156, VAL - 15076

TARGET BANKNIFTY
Buy BankNifty Future above 15156 - 15255 - 15390 - 15525 SL - 15119
Sell BankNifty Future below 15098 - 15000 - 14870 - 14740 SL - 15155

INTRADAY TRADE
TataElxsi: Buy above 546 for targets of 553, 570 SL 535
Advanta: Buy above 207 for targets of 210, 217 SL 202

SCORE SHEET
Torntpower: Buy above 160 for targets of 163, 170 SL 155: Target 166.85 done
Riil: Buy above 585 for targets of 592, 605 SL 577: Target 606.70 done

POSITIONAL TRADE
Dlf: Buy above 214 for target of 231 SL 207 (2-3 Days)
Dcw: Buy above 18.5 for target of 20.5 SL 17.6 (1 Week)

Thanks and Regards

MarketPulse S&P