Wednesday, October 20, 2010

Market outlook for 20/10/10

Nifty closed down 48.65 points (0.80%) at 6027.30 whilst Nifty October Future closed at 6044.15 premium of 16.85 points.
Bank Nifty closed down 85.65 points (0.69%) at 12245.65 whilst October Future closed at 12286.90 premium of 41.25 points.
  • FII bought in Cash (Net buy 107.12 Crore)
  • FII bought in index future but sold in index option and stock future (Net buy 329.50 Crore)
  • DII bought in Cash (Net buy 240.72 Crore, bought after a long-long time)
  • US market is trading in RED as off now.
  • Global cues are Negative.
  • 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 639:718
NIFTY TECHNICAL
Current Spot: 6027.30
Pivot: 6054
5DEMA: 6083
10DEMA: 6095
20DEMA: 6046
50DEMA: 5856
RSI (7 days): 40.99
Parabolic SAR: 6266
Supports: 5981 - 5899
Resistance: 6100 - 6173
Nifty Future VWAP: 6099.20
Bank Nifty Future VWAP: 12437.94
MP Values Spot:VAH - 6106, POC - 6074, VAL - 6041

TARGET NIFTY
Buy Nifty Future above 6083 - 6129 - 6217 - 6272 SL - 6075
Sell Nifty Future below 6035 - 5993 - 5939 - 5851 SL - 6081

INTRADAY TRADE
Reliance Industries: Buy above 1056 for targets of 1059, 1066, 1078 SL 1048
Reliance Industries: Sell below 1039 for targets of 1036, 1030, 1022 SL 1053
Ingvysyabk: Buy above 421 for targets of 426, 434 SL 410
Arvind: Buy above 56.5 for targets of 57.5, 59 SL 54.7

SCORE SHEET
Uttamstl: Buy above 155 for targets of 158, 163 SL 150.5: Target 161.7 achieved
Recltd: Buy above 375 for targets of 380, 387 SL 365: Target 377.2 achieved

POSITIONAL TRADE
Hanung: Buy above 381 for target of 407 SL 373 (One Week)
Alembicltd: Buy above 69 for target of 78 SL 67 (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

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