Market outlook for 28/10/10

Nifty closed down 69.35 points (1.14%) at 6012.65 whilst Nifty October Future closed at 6037.50 premium of 24.85 points.
Bank Nifty closed down 150.00 points (1.22%) at 12182.65 whilst October Future closed at 12240.70 premium of 58.05 points.

• FII sold small in Cash (Net sell 9.07 Crore)
• FII sold in index future, stock future but bought in index option (Net sell 111.02 Crore)
• DII sold in Cash (Net sell 518.30 Crore)
• US market is trading Negative.
• Global cues are Negative.
• SGX nifty is negative 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 469:894

NIFTY TECHNICAL

Current Spot: 6012.65
Pivot: 6025
5DEMA: 6058
10DEMA: 6070
20DEMA: 6052
50DEMA: 5902
RSI (7 days): 41.19
Parabolic SAR: 6178
Supports: 5975 - 5937
Resistance: 6063 - 6113

Nifty Future VWAP: 6059.65
Bank Nifty Future VWAP: 12294.81
MP Values Spot: VAH - 6056, POC - 6018, VAL - 5988
MP Values Futures: VAH - 6089, POC - 6082, VAL - 6046
MP Values Bank Nifty Futures: VAH - 12362, POC - 12339, VAL - 12282

TARGET NIFTY
Buy Nifty Future above 6053 - 6088 - 6142 - 6185 SL - 6045
Sell Nifty Future below 6028 - 5997 - 5954 - 5900 SL - 6051

INTRADAY TRADE
Reliance Industries: Buy above 1101 for targets of 1105, 1112, 1119 SL 1093
Reliance Industries: Sell below 1087 for targets of 1084, 1079, 1071 SL 1098
Dhanbank: Buy above 211 for targets of 213, 216 SL 206
Arvind: Buy above 59.5 for targets of 60.5, 62 SL 57.9

SCORE SHEET
Denabank: Buy above 139 for targets of 142, 146 SL 134: Target 144.35 achieved
Godrejind: Buy above 230 for targets of 233, 237 SL 225.5: Target 231.80 achieved

POSITIONAL TRADE
Suryapharm: Buy above 340 for target of 358 SL 329 (One Week)
Subex: Buy above 77.5 for target of 82 SL 75 (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