Market outlook for 26/05/2014

Nifty closed up 90.70 points (1.25%) at 7367.10 while Future closed at 7382.10, premium of 15.00 points.
Bank Nifty closed up 229.95 points (1.53%) at 15285.50 while Future closed at 15348.70, premium of 63.20 points.

• FII bought in Cash (Net buy 416.80 Crore)
• FII bought in index option but sold in index future, stock future (Net buy 167.89 Crore)
• DII sold in Cash (Net buy 135.50 Crore)
• Most Active Nifty Call Option: 7400 and 7500.
• Most Active Nifty Put Options: 7300 and 7200.
• Advance Decline for the day was 1138:447.
• McClellan's oscillator for NSE at +85.

NIFTY TECHNICAL

Current Spot: 7367.10
Pivot: 7347
5DEMA: 7278
10DEMA: 7181
20DEMA: 7040
50DEMA: 6805
RSI (14 days): 82.52
Parabolic SAR: 7045
Supports: 7314 - 7260 - 7227
Resistance: 7401 - 7434 - 7488

Nifty Future VIX Range: 7320 - 7462
Nifty Future VWAP: 7353.36
MP Values Nifty Future: VAH - 7379, POC - 7354, VAL - 7329

TARGET NIFTY
Buy Nifty Future above 7388 - 7410 - 7445 - 7490 SL - 7354
Sell Nifty Future below 7352 - 7330 - 7295 - 7250 SL - 7379

BANKNIFTY TECHNICAL

Current Spot: 15285.50
Pivot: 15193
5DEMA: 15032
10DEMA: 14681
20DEMA: 14125
50DEMA: 13166
RSI (14 days): 81.99
Parabolic SAR: 14932
Supports: 15065 - 14844 - 14716
Resistance: 15414 - 15542 - 15762

Bank Nifty Future VIX Range: 15102 - 15649
Bank Nifty Future VWAP: 15185.84
MP Values Bank Nifty Future: VAH - 15264, POC - 15160, VAL - 15056

TARGET BANKNIFTY
Buy BankNifty Future above 15360 - 15455 - 15590 - 15800 SL - 15229
Sell BankNifty Future below 15223 - 15130 - 14940 - 14750 SL - 15264

INTRADAY TRADE
Hindzinc: Buy above 163 for targets of 166, 171 SL 159
Canbk: Buy above 475 for targets of 482, 495 SL 464

SCORE SHEET
TataElxsi: Buy above 546 for targets of 553, 570 SL 535: Target 563.00 done
Advanta: Buy above 207 for targets of 210, 217 SL 202: Target 226.35 done

POSITIONAL TRADE
Ntpc: Buy above 161 for target of 168 SL 158 (2-3 Days)
Gujnrecoke: Buy above 18.4 for target of 20 SL 17.1 (1 Week)

Thanks and Regards

MarketPulse S&P