Market outlook for 02/11/10

Nifty closed up 99.85 points (1.66%) at 6117.55 whilst Nifty November Future closed at 6152.05 premium of 34.50 points.
Bank Nifty closed up 404.15 points (3.28%) at 12734.90 whilst November Future closed at 12785.40 premium of 50.50 points.

• FII bought in Cash (Net buy 711.81 Crore)
• FII bought in index future, index options but sold in stock future (Net buy 3651.02 Crore)
• DII sold in Cash (Net sell 71.30 Crore)
• US market is trading in Green.
• Global cues are flat.
• SGX nifty is positive as of now.
• Most Active Nifty November Call Option: 6200 and 6300.
• Most Active Nifty November Put Options: 6100 and 6000.
• Advance Decline for the day was 928:450

NIFTY TECHNICAL

Current Spot: 6117.55
Pivot: 6112
5DEMA: 6058
10DEMA: 6061
20DEMA: 6050
50DEMA: 5918
RSI (7 days): 58.51
Parabolic SAR: 6134
Supports: 6091 - 6064
Resistance: 6138 - 6159

Nifty Future VWAP: 6145.26
Bank Nifty Future VWAP: 12716.85
MP Values Spot: VAH - 6131, POC - 6119, VAL - 6107
MP Values Futures: VAH - 6158, POC - 6152, VAL - 6140
MP Values Bank Nifty Futures: VAH - 12795, POC - 12774, VAL - 12680

TARGET NIFTY
Buy Nifty Future above 6157 - 6183 - 6216 - 6264 SL - 6135
Sell Nifty Future below 6129 - 6108 - 6060 - 6026 SL - 6141

INTRADAY TRADE
Reliance Industries: Buy above 1108 for targets of 1113, 1119, 1135 SL 1100
Reliance Industries: Sell below 1088 for targets of 1084, 1077, 1067 SL 1105
IndiaBulls: Buy above 233 for targets of 238, 243 SL 229
Abgship: Buy above 477 for targets of 482, 489 SL 469

SCORE SHEET
Raymond: Buy above 433 for targets of 438, 444 SL 426: Target 437.70 achieved
Glenmark: Buy above 340 for targets of 344, 351 SL 332: Target 353.00 achieved

POSITIONAL TRADE
Atul: Buy above 202 for target of 220 SL 192 (One Week)
Petronet: Buy above 119 for target of 125 SL 116 (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