Market outlook for 24/09/2014

Nifty closed down 128.75 points (1.58%) at 8017.55 while Future closed at 8032.10, premium of 14.65 points.
Bank Nifty closed down 291.70 points (1.80%) at 15902.85 while Future closed at 15929.90, premium of 27.05 points.

• FII sold Huge in Cash (Net sell 1185.17 Crore)
• FII bought in index option but sold in index future, stock future (Net buy 554.54 Crore)
• DII bought in Cash (Net buy 325.70 Crore)
• Most Active Nifty Call Option: 8100 and 8200.
• Most Active Nifty Put Options: 8100 and 8000.
• Advance Decline for the day was 315:1256.
• McClellan's oscillator for NSE at -18.

NIFTY TECHNICAL

Current Spot: 8017.55
Pivot: 8062
5DEMA: 8070
10DEMA: 8066
20DEMA: 8029
50DEMA: 7896
RSI (14 days): 51.79
Parabolic SAR: 7934
Supports: 7964 - 7910 - 7812
Resistance: 8116 - 8213 - 8267

Nifty Future VWAP: 8093.67
Nifty Future VIX Range: 7965 - 8099
MP Values Nifty Future: VAH - 8115, POC - 8050, VAL - 8026

TARGET NIFTY
Buy Nifty Future above 8094 - 8115 - 8165 - 8220 SL - 8049
Sell Nifty Future below 8023 - 7995 - 7945 - 7885 SL - 8078

BANKNIFTY TECHNICAL

Current Spot: 15902.85
Pivot: 16013
5DEMA: 16047
10DEMA: 16051
20DEMA: 15960
50DEMA: 15678
RSI (14 days): 50.72
Parabolic SAR: 15781
Supports: 15785 - 15667 - 15439
Resistance: 16131 - 16359 - 16477

Bank Nifty Future VWAP: 16056.35
Bank Nifty Future VIX Range: 15756 - 16104
MP Values Bank Nifty Future: VAH - 16112, POC - 15952, VAL - 15920

TARGET BANKNIFTY
Buy BankNifty Future above 16057 - 16130 - 16235 - 16390 SL - 15952
Sell BankNifty Future below 15916 - 15850 - 15735 - 15600 SL - 16035

INTRADAY TRADE
Hcltech: Buy above 1730 for targets of 1737, 1753 SL 1717
Ibulhsgfin: Buy above 430 for targets of 434, 443 SL 424

SCORE SHEET
TataMotors: Buy above 542 for targets of 547, 557 SL 533: SL Hit
Itc: Buy above 372 for targets of 375, 380 SL 367: Target 374.90 done

POSITIONAL TRADE
Gdl: Buy above 255 for target of 264 SL 252 (2-3 Days)
Digjam: Buy above 12.0 for target of 14.2 SL 11.4 (1 Week)

Thanks and Regards

MarketPulse S&P