Market outlook for 29/10/10

Nifty closed down 24.95 points (0.41%) at 5987.70 whilst Nifty November Future closed at 6063.95 premium of 76.25 points.
Bank Nifty closed down 77.35 points (0.63%) at 12105.30 whilst November Future closed at 12234.35 premium of 129.05 points.

• FII sold big in Cash (Net sell 950.08 Crore)
• FII sold in index future, stock future and index option (Net sell 567.49 Crore)
• DII sold in Cash (Net sell 60.44 Crore)
• US market is trading Negative.
• Global cues are Negative.
• SGX nifty is negative as of now.
• Most Active Nifty November Call Option: 6100 and 6200.
• Most Active Nifty November Put Options: 6000 and 5900.
• Advance Decline for the day was 476:884

NIFTY TECHNICAL

Current Spot: 5987.70
Pivot: 6009
5DEMA: 6034
10DEMA: 6055
20DEMA: 6046
50DEMA: 5903 (Major Support)
RSI (7 days): 38.25
Parabolic SAR: 6165
Supports: 5947 - 5906
Resistance: 6050 - 6112

Nifty Future VWAP: 6074.12
Bank Nifty Future VWAP: 12268.65
MP Values Spot: VAH - 6047, POC - 6024, VAL - 6001
MP Values Futures: VAH - 6079, POC - 6060, VAL - 6054
MP Values Bank Nifty Futures: VAH - 12304, POC - 12270, VAL - 12248

TARGET NIFTY
Buy Nifty Future above 6020 - 6053 - 6121 - 6161 SL - 6013
Sell Nifty Future below 5979 - 5951 - 5911 - 5843 SL - 6019

INTRADAY TRADE
Reliance Industries: Buy above 1091 for targets of 1094, 1102, 1117 SL 1083
Reliance Industries: Sell below 1077 for targets of 1074, 1070, 1062 SL 1089
Atul: Buy above 185 for targets of 188, 194 SL 181
Abgship: Buy above 475 for targets of 479, 489 SL 466

SCORE SHEET
Dhanbank: Buy above 211 for targets of 213, 216 SL 206: Target 212.20 achieved
Arvind: Buy above 59.5 for targets of 60.5, 62 SL 57.9: Target 62.60 achieved

POSITIONAL TRADE
RajeshExpo: Buy above 119 for target of 130 SL 116 (One Week)
Aloktext: Buy above 27.3 for target of 29 SL 26.6 (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