Market outlook for 04/10/10

Nifty closed up 113.45 points (1.88%) at 6143.40 whilst Nifty October Future closed at 6176.30 premium of 32.9 points.
Bank Nifty closed up 190.40 points (1.54%) at 12556.75 whilst October Future closed at 12596.50 premium of 39.75 points.

• FII bought in Cash (Net buy 1825.2 Crore)
• FII bought in index future and index option, sold in stock future (Net buy 922.01 Crore)
• DII sold in Cash (Net sell 671.08 Crore)
• US market ended flat to positive.
• Global cues are flat.
• SGX nifty is flat as of now.
• Most Active Nifty October Call Option: 6100 and 6200.
• Most Active Nifty October Put Options: 6100 and 6000.
• Advance Decline for the day was 1018:333

NIFTY TECHNICAL

Current Spot: 6143.40
Pivot: 6112
5DEMA: 6055
10DEMA: 5997
20DEMA: 5884
50DEMA: 5678
RSI (7 days): 81.74
Parabolic SAR: 5964
Supports: 6070 - 5996
Resistance: 6185 - 6227

Nifty Future VWAP: 6133
Bank Nifty Future VWAP: 12503
MP Values Spot: VAH - 6130, POC - 6100, VAL - 6069
MP Values Futures: VAH - 6157 POC - 6122, VAL - 6100
MP Values Bank Nifty Futures: VAH - 12618, POC - 12602, VAL - 12498

TARGET NIFTY
Buy Nifty above 6181 - 6220 - 6268 - 6354 SL - 6134
Sell Nifty below 6127 - 6093 - 6006 - 5959 SL - 6140

INTRADAY TRADE
Reliance Industries: Buy above 1010 for targets of 1013, 1020, 1031 SL 1000
Reliance Industries: Sell below 999 for targets of 997, 992, 985 SL 1005
IOB: Buy above 138.5 for targets of 141, 144 SL 133
EssarOil: Buy above 133 for targets of 134.5, 136 SL 131

POSITIONAL TRADE
BEML: Buy above 1114 for target of 1148 SL 1094 (One Week)
DenaBank: Buy above 109.5 for target of 114.5 SL 105 (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