Tuesday, November 2, 2010

Market outlook for 03/11/10

Nifty closed up 1.45 points (0.02%) at 6119.00 whilst Nifty November Future closed at 6155.95 premium of 36.95 points.
Bank Nifty closed up 36.00 points (0.28%) at 12770.90 whilst November Future closed at 12840.15 premium of 69.25 points.
  • FII bought in Cash (Net buy 460.88 Crore)
  • FII sold in index future, stock future but bought in index option (Net sell 646.13 Crore)
  • DII sold in Cash (Net sell 202.24 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 658:708
NIFTY TECHNICAL
Current Spot: 6119.00
Pivot: 6117
5DEMA: 6079
10DEMA: 6071
20DEMA: 6057
50DEMA: 5926
RSI (7 days): 57.05
Parabolic SAR: 5937
Supports: 6096 - 6073
Resistance: 6140 - 6161
Nifty Future VWAP: 6151.35
Bank Nifty Future VWAP: 12818.85
MP Values Spot: VAH - 6126, POC - 6116, VAL - 6106
MP Values Futures: VAH - 6160, POC - 6150, VAL - 6144
MP Values Bank Nifty Futures: VAH - 12850, POC - 12830, VAL - 12802

TARGET NIFTY
Buy Nifty Future above 6161 - 6174 - 6195 - 6220 SL - 6150
Sell Nifty Future below 6143 - 6134 - 6110 - 6089 SL - 6156

INTRADAY TRADE
Reliance Industries: Buy above 1086 for targets of 1088, 1094, 1103 SL 1077
Reliance Industries: Sell below 1069 for targets of 1067, 1063, 1057 SL 1083
Ktkbank: Buy above 202 for targets of 205, 210 SL 197
RCF: Buy above 105 for targets of 108, 111 SL 101

SCORE SHEET
IndiaBulls: Buy above 233 for targets of 238, 243 SL 229: Target 237.30 achieved
Abgship: Buy above 477 for targets of 482, 489 SL 469: Target 485.90 achieved

POSITIONAL TRADE
Wockpharma: Buy above 360 for target of 400 SL 340 (One Week)
RajeshExpo: Buy above 137 for target of 150 SL 132 (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

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