Market outlook for 23/09/2014

Nifty closed up 24.85 points (0.31%) at 8146.30 while Future closed at 8158.45, premium of 12.15 points.
Bank Nifty closed up 42.40 points (0.26%) at 16194.55 while Future closed at 16217.90, premium of 23.35 points.

• FII sold in Cash (Net sell 186.41 Crore)
• FII sold in index option, stock future but bought in index future (Net sell 381.70 Crore)
• DII bought in Cash (Net buy 31.49 Crore)
• Most Active Nifty Call Option: 8100 and 8200.
• Most Active Nifty Put Options: 8100 and 8000.
• Advance Decline for the day was 818:743.
• McClellan's oscillator for NSE at +15.

NIFTY TECHNICAL

Current Spot: 8146.30
Pivot: 8124
5DEMA: 8097
10DEMA: 8077
20DEMA: 8030
50DEMA: 7891
RSI (14 days): 62.79
Parabolic SAR: 7930
Supports: 8087 - 8029 - 7992
Resistance: 8183 - 8219 - 8278

Nifty Future VWAP: 8116.23
Nifty Future VIX Range: 8091 - 8215
MP Values Nifty Future: VAH - 8148, POC - 8090, VAL - 8068

TARGET NIFTY
Buy Nifty Future above 8165 - 8185 - 8215 - 8260 SL - 8116
Sell Nifty Future below 8115 - 8095 - 8065 - 8015 SL - 8148

BANKNIFTY TECHNICAL

Current Spot: 16194.55
Pivot: 16163
5DEMA: 16119
10DEMA: 16084
20DEMA: 15966
50DEMA: 15668
RSI (14 days): 60.79
Parabolic SAR: 15771
Supports: 16053 - 15911 - 15802
Resistance: 16304 - 16414 - 16555

Bank Nifty Future VWAP: 16157.66
Bank Nifty Future VIX Range: 16020 - 16354
MP Values Bank Nifty Future: VAH - 16270, POC - 16183, VAL - 16096

TARGET BANKNIFTY
Buy BankNifty Future above 16230 - 16330 - 16435 - 16590 SL - 16157
Sell BankNifty Future below 16152 - 16070 - 15965 - 15830 SL - 16184

INTRADAY TRADE
TataMotors: Buy above 542 for targets of 547, 557 SL 533
Itc: Buy above 372 for targets of 375, 380 SL 367

SCORE SHEET
Ambujacem: Buy above 215.5 for targets of 218, 222 SL 213: SL Hit
Idea: Buy above 175 for targets of 177, 181 SL 173: Call not Active

POSITIONAL TRADE
Ongc: Buy above 420 for target of 432 SL 414 (2-3 Days)
Burnpur: Buy above 15.0 for target of 16.6 SL 14.4 (1 Week)

Thanks and Regards

MarketPulse S&P