Market outlook for 19/10/10

Nifty closed up 13.3 points (0.22%) at 6075.95 whilst Nifty October Future closed at 6122.20 premium of 46.25 points.
Bank Nifty closed down 15.15 points (0.12%) at 12331.30 whilst October Future closed at 12425.50 premium of 94.20 points.

• FII bought in Cash (Net buy 335.79 Crore)
• FII sold in index future, index option and stock future (Net sell 178.79 Crore)
• DII sold in Cash (Net sell 1218.42 Crore)
• US market is trading positive as off now.
• 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 487:868

NIFTY TECHNICAL

Current Spot: 6075.95
Pivot: 6052
5DEMA: 6111
10DEMA: 6110
20DEMA: 6048
50DEMA: 5849
RSI (7 days): 46.93
Parabolic SAR: 6278
Supports: 6009 - 5942
Resistance: 6119 - 6162

Nifty Future VWAP: 6060.89
Bank Nifty Future VWAP: 12330.72
MP Values Spot: VAH - 6078, POC - 6007, VAL - 5986
MP Values Futures: VAH - 6071 POC - 6036, VAL - 6026
MP Values Bank Nifty Futures: VAH - 12365, POC - 12300, VAL - 12275

TARGET NIFTY
Buy Nifty Future above 6127 - 6167 - 6214 - 6291 SL - 6086
Sell Nifty Future below 6078 - 6044 - 5983 - 5916 SL - 6092

INTRADAY TRADE
Reliance Industries: Buy above 1054 for targets of 1058, 1063, 1074 SL 1046
Reliance Industries: Sell below 1042 for targets of 1035, 1028, 1018 SL 1051
Uttamstl: Buy above 155 for targets of 158, 163 SL 150.5
Recltd: Buy above 375 for targets of 380, 387 SL 365

SCORE SHEET
Orchidchem: Buy above 312 for targets of 318, 325 SL 306: Target 321 achieved
Mudra: Buy above 57.5 for targets of 59, 61 SL 56: Target 59 achieved

POSITIONAL TRADE
Petronet: Buy above 125 for target of 134 SL 120 (One Week)
Patni: Buy above 460 for target of 492 SL 441 (One Month)

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