Market outlook for 24/09/10

Nifty closed down 31.45 points (0.52%) at 5959.55 whilst Nifty September Future closed at 5971.75 premium of 12.2 points.
Bank Nifty closed down 159.40 points (1.30%) at 12146.30 whilst September Future closed at 12165.05 premium of 18.75 points.

• FII bought in Cash (Net buy 534.45 Crore)
• FII sold big in index future, index option and stock future (Net sell 2150.20 Crore)
• DII sold in Cash (Net sell 645.69 Crore)
• US market is trading flat.
• Global cues are flat.
• SGX nifty is flat as of now.
• Most Active Nifty September Call Option: 6000 and 6100.
• Most Active Nifty September Put Options: 6000 and 5900.
• Advance Decline for the day was 564:774

NIFTY TECHNICAL

Current Spot: 5959.55
Pivot: 5966
5DEMA: 5947
10DEMA: 5869
20DEMA: 5750
50DEMA: 5586
RSI (7 days): 75.61
Parabolic SAR: 5817
Supports: 5926 - 5892
Resistance: 6000 - 6041

Nifty Future VWAP: 5971
Bank Nifty Future VWAP: 12208
MP Values Spot: VAH - 5983, POC - 5970, VAL - 5957
MP Values Futures: VAH - 5982, POC - 5975, VAL - 5967
MP Values Bank Nifty Futures: VAH - 12253, POC - 12228, VAL - 12173

TARGET NIFTY
Buy Nifty above 5982 - 6009 - 6049 - 6084 SL - 5975
Sell Nifty below 5963 - 5940 - 5906 - 5866 SL - 5981

INTRADAY TRADE
Reliance Industries: Buy above 1011 for targets of 1013, 1019, 1031 SL 1003
Reliance Industries: Sell below 993 for targets of 990, 984, 972 SL 1008
Orchidchem: Buy above 209 for targets of 212, 217 SL 204
KPIT: Buy above 165 for targets of 168, 172 SL 163.5

SCORE SHEET
Satyamcomp: Buy above 108 for targets of 111, 115 SL 104: Target 113.85 achieved
Lumaxtech: Buy above 187 for targets of 191, 196 SL 183: Target 192.50 achieved

POSITIONAL TRADE
AssamCo: Buy above 25 for target of 27 SL 24.5 (One Week)
PTC: Buy above 121 for target of 126 SL 118 (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