Market outlook for 01/11/10

Nifty closed up 30.00 points (0.50%) at 6017.70 whilst Nifty November Future closed at 6043.60 premium of 25.90 points.
Bank Nifty closed up 225.45 points (1.86%) at 12330.75 whilst November Future closed at 12372.15 premium of 41.40 points.

• FII bought in Cash (Net buy 735.40 Crore)
• FII sold in index future, stock future but bought in index option (Net sell 532.00 Crore)
• DII bought in Cash (Net buy 344.40 Crore)
• US market ended flat.
• Global cues are flat.
• SGX nifty is positive as of now.
• Most Active Nifty November Call Option: 6100 and 6200.
• Most Active Nifty November Put Options: 6000 and 5900.
• Advance Decline for the day was 348:1023

NIFTY TECHNICAL

Current Spot: 6017.70
Pivot: 5996
5DEMA: 6029
10DEMA: 6048
20DEMA: 6043
50DEMA: 5905
RSI (7 days): 43.87
Parabolic SAR: 6152
Supports: 5959 - 5900
Resistance: 6055 - 6091

Nifty Future VWAP: 6017.11
Bank Nifty Future VWAP: 12178.74
MP Values Spot: VAH - 6008, POC - 5985, VAL - 5962

TARGET NIFTY
Buy Nifty Future above 6048 - 6081 - 6122 - 6181 SL - 6022
Sell Nifty Future below 6016 - 5988 - 5929 - 5888 SL - 6028

INTRADAY TRADE
Reliance Industries: Buy above 1099 for targets of 1104, 1111, 1117 SL 1092
Reliance Industries: Sell below 1089 for targets of 1085, 1077, 1068 SL 1097
Raymond: Buy above 433 for targets of 438, 444 SL 426
Glenmark: Buy above 340 for targets of 344, 351 SL 332

SCORE SHEET
Atul: Buy above 185 for targets of 188, 194 SL 181: Target 186.10 achieved
Abgship: Buy above 475 for targets of 479, 489 SL 466: Target 490.50 achieved

POSITIONAL TRADE
Aban: Buy above 787 for target of 815 SL 776 (One Week)
SesaGoa: Buy above 322 for target of 343 SL 316 (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