Market outlook for 18/10/10

Nifty closed down 114.7 points (1.86%) at 6062.65 whilst Nifty October Future closed at 6092.00 premium of 29.35 points.
Bank Nifty closed down 252.4 points (2.00%) at 12346.45 whilst October Future closed at 12436.70 premium of 90.25 points.

• FII sold in Cash (Net sell 112.75 Crore, sold after many days)
• FII bought in index option but sold in stock future and index future (Net sell 178.79 Crore)
• DII sold in Cash (Net sell 1053.45 Crore)
• US market ended flat.
• Global cues are flat.
• SGX nifty is flat 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 309:1059

NIFTY TECHNICAL

Current Spot: 6062.65
Pivot: 6105
5DEMA: 6129
10DEMA: 6118
20DEMA: 6045
50DEMA: 5839
RSI (7 days): 45.06
Parabolic SAR: 6284
Supports: 6008 - 5954
Resistance: 6159 - 6255

Nifty Future VWAP: 6140.86
Bank Nifty Future VWAP: 12523.01
MP Values Spot: VAH - 6167, POC - 6126, VAL - 6086

TARGET NIFTY
Buy Nifty Future above 6136 - 6182 - 6277 - 6330 SL - 6128
Sell Nifty Future below 6083 - 6040 - 5985 - 5892 SL - 6134

INTRADAY TRADE
Reliance Industries: Buy above 1053 for targets of 1058, 1064, 1078 SL 1045
Reliance Industries: Sell below 1035 for targets of 1031, 1025, 1018 SL 1051
Orchidchem: Buy above 312 for targets of 318, 325 SL 3006
Mudra: Buy above 57.5 for targets of 59, 61 SL 56

SCORE SHEET
AmtekAuto: Buy above 162.3 for targets of 165, 168 SL 159.5: Target 169 achieved
Indiaglyco: Buy above 171 for targets of 174, 178 SL 166: Target 195.9 achieved

POSITIONAL TRADE
Indiaglyco: Buy above 182 for target of 217 SL 177 (Two Weeks)
Timken: Buy above 207 for target of 230 SL 199 (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