Market outlook for 16/07/2014

Nifty closed up 72.50 points (0.97%) at 7526.65 while Future closed at 7538.60, premium of 11.95 points.
Bank Nifty closed up 402.15 points (2.78%) at 14891.90 while Future closed at 14938.20, premium of 46.30 points.

• FII sold in Cash (Net sell 3.40 Crore)
• FII bought in index future, stock future and in index option (Net buy 1184.69 Crore)
• DII bought in Cash (Net buy 471.78 Crore)
• Most Active Nifty Call Option: 7500 and 7600.
• Most Active Nifty Put Options: 7500 and 7400.
• Advance Decline for the day was 1134:412.
• McClellan's oscillator for NSE at -53.

NIFTY TECHNICAL

Current Spot: 7526.65
Pivot: 7507
5DEMA: 7530
10DEMA: 7565
20DEMA: 7562
50DEMA: 7408
RSI (14 days): 49.45
Parabolic SAR: 7714
Supports: 7479 - 7431 - 7403
Resistance: 7555 - 7583 - 7630

Nifty Future VIX Range: 7465 - 7603
Nifty Future VWAP: 7515.18
MP Values Nifty Future: VAH - 7548, POC - 7527, VAL - 7498

TARGET NIFTY
Buy Nifty Future above 7548 - 7565 - 7590 - 7635 SL - 7514
Sell Nifty Future below 7507 - 7490 - 7465 - 7425 SL - 7527

BANKNIFTY TECHNICAL

Current Spot: 14891.90
Pivot: 14804
5DEMA: 14782
10DEMA: 14915
20DEMA: 15018
50DEMA: 14739
RSI (14 days): 47.71
Parabolic SAR: 15276
Supports: 14689 - 14487 - 14372
Resistance: 15007 - 15122 - 15325

Bank Nifty Future VIX Range: 14706 - 15146
Bank Nifty Future VWAP: 14794.39
MP Values Bank Nifty Future: VAH - 14879, POC - 14782, VAL - 14685

TARGET BANKNIFTY
Buy BankNifty Future above 14949 - 15065 - 15200 - 15390 SL - 14826
Sell BankNifty Future below 14811 - 14710 - 14550 - 14410 SL - 14879

INTRADAY TRADE
Crompgreav: Buy above 185.5 for targets of 187, 190 SL 182
Bhel: Buy above 235.5 for targets of 238, 243 SL 231

SCORE SHEET
Hindalco: Buy above 174 for targets of 176, 180 SL 171: Target 176.40 done
TataSteel: Buy above 518 for targets of 522, 532 SL 511: Target 530.00 done

POSITIONAL TRADE
Relcapital: Buy above 587 for target of 610 SL 577 (2-3 Days)
Jindcot: Buy above 20.8 for target of 22.5 SL 20.1 (1 Week)

Thanks and Regards

MarketPulse S&P