Market outlook for 07/06/10

Nifty rose 25 points (+0.49%) to 5135.50 whilst Nifty June Future closed at 5119.95 discount of 15.55 points.

• FII bought in Cash (Net buy 100.91 Crore)
• FII bought in index futures, stock futures and index options (Net buy 1792.53 Crore)
• DII sold in Cash (Net sell 126.61 Crore)
• US market was in DEEP RED.
• Global cues are Negative.
• SGX nifty is Negative as of now (-130 points).
• Most Active Nifty June Call Option: 5100 and 5200.
• Most Active Nifty June Put Options: 5100 and 5000.
• Advance Decline for the day was 630:664

NIFTY Technical

Current Spot: 5135.50
Pivot: 5125
3DEMA: 5099
7DEMA: 5057
20DEMA: 5055
100DEMA: 5125
RSI (7 days): 62.24
Parabolic SAR: 4879
Supports: 5102 - 5069
Resistance: 5158 - 5181

MP Values Spot: VAH - 5148, POC - 5131, VAL - 5105
MP Values Futures: VAH - 5115, POC - 5082, VAL - 5073

Target Nifty
Buy Nifty above 5124 - 5144 - 5170 - 5208 SL - 5106
Sell Nifty below 5101 - 5085 - 5047 - 5020 SL - 5111

Swing Trade
Ranbaxy (Buy)

It’s stochastic and MACD have just given a buy crossover suggesting a further upward move. Further, RSI is also trading below 50 levels suggesting upward move is likely. Buy above 433 for target of 460 strict stop loss of 415.

Stock Ideas for the Day
Reliance Industries: Buy above 1034 for targets of 1036, 1041, 1048 SL of 1027
Reliance Industries: Sell below 1025 for targets of 1022, 1019, 1013 SL of 1032
Tata Steel: Sell below 480 for target of 476, 470 SL 486
Reliance Capital: Buy above 681 for target of 689, 700 SL 677

Positional Call
3iInfotech: Buy above 66.4 for target of 72 SL 65 (Two Weeks)
DishTV: Buy above 41.5 for target of 45 SL 40.3 (One Week)

Use strict STOP LOSS in each and every trade in this kind of volatile market and Trade at your own risk.

Thanks and Regards

S&P Wealth Creators

Call 09831497250 or mail us @ S&P Wealth Creators with your Name and Mobile No. for subscription offer of intraday calls during Market hours.