Market outlook for 05/10/10

Nifty closed up 16.05 points (0.26%) at 6159.45 whilst Nifty October Future closed at 6185.50 premium of 26.05 points.
Bank Nifty closed up 94.55 points (0.75%) at 12651.30 whilst October Future closed at 12699.25 premium of 47.95 points.

• FII bought in Cash (Net buy 1264.11 Crore)
• FII sold in index future and stock future, bought in index option (Net sell 108.97 Crore)
• DII sold in Cash (Net sell 797.83 Crore)
• US market is trading negative as of now.
• Global cues are flat.
• SGX nifty is flat to negative as of now.
• Most Active Nifty October Call Option: 6200 and 6300.
• Most Active Nifty October Put Options: 6100 and 6000.
• Advance Decline for the day was 615:728

NIFTY TECHNICAL

Current Spot: 6159.45
Pivot: 6175
5DEMA: 6090
10DEMA: 6027
20DEMA: 5910
50DEMA: 5697
RSI (7 days): 82.71
Parabolic SAR: 5969
Supports: 6129 - 6098
Resistance: 6206 - 6253

Nifty Future VWAP: 6206
Bank Nifty Future VWAP: 12713
MP Values Spot: VAH - 6209, POC - 6185, VAL - 6161
MP Values Futures: VAH - 6215 POC - 6195, VAL - 6185
MP Values Bank Nifty Futures: VAH - 12740, POC - 12720, VAL - 12699

TARGET NIFTY
Buy Nifty above 6208 - 6228 - 6273 - 6300 SL - 6200
Sell Nifty below 6176 - 6161 - 6133 - 6088 SL - 6206

INTRADAY TRADE
Reliance Industries: Buy above 1025 for targets of 1027, 1029, 1032 SL 1018
Reliance Industries: Sell below 1014 for targets of 1012, 1009, 1005 SL 1021
Tulip: Buy above 191 for targets of 194, 197 SL 186
Eveready: Buy above 71 for targets of 72, 74 SL 70

SCORE SHEET
IOB: Buy above 138.5 for targets of 141, 144 SL 133: Target 144.35 achieved
EssarOil: Buy above 133 for targets of 134.5, 136 SL 131: Target 135.40 achieved

POSITIONAL TRADE
Bhusanstl: Buy above 509 for target of 555 SL 485 (One Week)
UCOBank: Buy above 130 for target of 139 SL 125 (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