Market outlook for 29/05/2014

Nifty closed up 11.65 points (0.16%) at 7329.65 while Future closed at 7332.10, premium of 2.45 points.
Bank Nifty closed up 89.35 points (0.59%) at 15173.35 while Future closed at 15168.20, discount of 5.15 points.

• FII sold in Cash (Net sell 286.54 Crore)
• FII sold in index option, stock future but bought in index future (Net sell 159.27 Crore)
• DII sold in Cash (Net buy 33.40 Crore)
• Most Active Nifty Call Option: 7300 and 7400.
• Most Active Nifty Put Options: 7300 and 7200.
• Advance Decline for the day was 1045:525.
• McClellan's oscillator for NSE at +40.

NIFTY TECHNICAL

Current Spot: 7329.65
Pivot: 7326
5DEMA: 7316
10DEMA: 7250
20DEMA: 7116
50DEMA: 6873
RSI (14 days): 76.44
Parabolic SAR: 7159
Supports: 7307 - 7284 - 7264
Resistance: 7349 - 7468 - 7391

Nifty Future VIX Range: 7272 - 7402
Nifty Future VWAP: 7327.91
MP Values Nifty Future: VAH - 7334, POC - 7327, VAL - 7320

TARGET NIFTY
Buy Nifty Future above 7335 - 7350 - 7380 - 7420 SL - 7320
Sell Nifty Future below 7313 - 7300 - 7265 - 7225 SL - 7334

BANKNIFTY TECHNICAL

Current Spot: 15173.35
Pivot: 15135
5DEMA: 15112
10DEMA: 14891
20DEMA: 14389
50DEMA: 13397
RSI (14 days): 76.17
Parabolic SAR: 15726
Supports: 15071 - 14969 - 14905
Resistance: 15237 - 15301 - 15403

Bank Nifty Future VIX Range: 14944 - 15446
Bank Nifty Future VWAP: 15129.75
MP Values Bank Nifty Future: VAH - 15158, POC - 15116, VAL - 15074

TARGET BANKNIFTY
Buy BankNifty Future above 15195 - 15260 - 15350 - 15480 SL - 15129
Sell BankNifty Future below 15116 - 15074 - 14965 - 14805 SL - 15158

INTRADAY TRADE
Bhel: Buy above 250 for targets of 253, 260 SL 245
Rcom: Buy above 146 for targets of 148, 153 SL 142

SCORE SHEET
Jindalstel: Buy above 318 for targets of 322, 330 SL 313: SL Hit
Polaris: Buy above 223 for targets of 226, 235 SL 217: Call not Active

POSITIONAL TRADE
TataPower: Buy above 103 for target of 108 SL 100 (2-3 Days)
Adanipower: Buy above 60 for target of 66 SL 58.5 (1 Week)

Thanks and Regards

MarketPulse S&P