Market outlook for 20/09/10

Nifty closed down 56.25 points (0.97%) at 5884.95 whilst Nifty September Future closed at 5904.05 premium of 19.1 points.
Bank Nifty closed up 72.05 points (0.60%) at 12104.10 whilst September Future closed at 12106.45 premium of 2.35 points.

• FII bought in Cash (Net buy 1518.76 Crore)
• FII bought in index future and index option but sold in stock future (Net buy 620.58 Crore)
• DII sold in Cash (Net sell 747.24 Crore)
• US market ended flat.
• Global cues are flat.
• SGX nifty is flat to negative as of now.
• Most Active Nifty September Call Option: 5900 and 6000.
• Most Active Nifty September Put Options: 5900 and 5800.
• Advance Decline for the day was 934:412

NIFTY TECHNICAL

Current Spot: 5884.95
Pivot: 5878
5DEMA: 5813
10DEMA: 5730
20DEMA: 5635
50DEMA: 5513
RSI (7 days): 84.63
Parabolic SAR: 5582
Supports: 5858 - 5831
Resistance: 5905 - 5926

Nifty Future VWAP: 5895
Bank Nifty Future VWAP: 12118
MP Values Spot: VAH - 5892, POC - 5882, VAL - 5872
MP Values Futures: VAH - 5904, POC - 5895, VAL - 5887
MP Values Bank Nifty Futures: VAH - 12160, POC - 12139, VAL - 12110

TARGET NIFTY
Buy Nifty above 5908 - 5923 - 5944 - 5977 SL - 5890
Sell Nifty below 5884 - 5875 - 5842 - 5721 SL - 5896

INTRADAY TRADE
Reliance Industries: Buy above 1030 for targets of 1034, 1040, 1050 SL 1019
Reliance Industries: Sell below 1016 for targets of 1013, 1005, 995 SL 1024
UFlex: Buy above 204 for targets of 207, 210 SL 200
Aegischem: Buy above 323 for targets of 328, 334 SL 315

POSITIONAL TRADE
EKC: Buy above 122 for target of 129 SL 118 (One Week)
Renuka: Buy above 81 for target of 90 SL 79 (One Month)

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