Wednesday, November 3, 2010

Market outlook for 04/11/10

Nifty closed up 41.50 points (0.68%) at 6160.50 whilst Nifty November Future closed at 6191.25 premium of 30.75 points.
Bank Nifty closed up 120.90 points (0.95%) at 12891.80 whilst November Future closed at 12941.20 premium of 49.40 points.
  • FII bought in Cash (Net buy 987.61 Crore)
  • FII bought in index future, index option but sold in stock future (Net buy 571.17 Crore)
  • DII sold in Cash (Net sell 370.62 Crore)
  • US market is trading flat to Negative.
  • Global cues are flat.
  • SGX nifty is flat 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 808:562
NIFTY TECHNICAL
Current Spot: 6160.50
Pivot: 6163
5DEMA: 6106
10DEMA: 6087
20DEMA: 6067
50DEMA: 5936
RSI (7 days): 63.99
Parabolic SAR: 5942
Supports: 6144 - 6128
Resistance: 6180 - 6199
Nifty Future VWAP: 6196.22
Bank Nifty Future VWAP: 12937.35
MP Values Spot: VAH - 6174, POC - 6166, VAL - 6158
MP Values Futures: VAH - 6205, POC - 6200, VAL - 6194
MP Values Bank Nifty Futures: VAH - 12948, POC - 12925, VAL - 12914

TARGET NIFTY
Buy Nifty Future above 6199 - 6209 - 6230 - 6248 SL - 6191
Sell Nifty Future below 6182 - 6176 - 6158 - 6137 SL - 6197

INTRADAY TRADE
Reliance Industries: Buy above 1076 for targets of 1078, 1083, 1091 SL 1068
Reliance Industries: Sell below 1060 for targets of 1058, 1053, 1047 SL 1074
Gitanjali: Buy above 320 for targets of 325, 332 SL 315
Dishtv: Buy above 63 for targets of 64.5, 67 SL 61.5

SCORE SHEET
Ktkbank: Buy above 202 for targets of 205, 210 SL 197: Target 202.95 achieved
RCF: Buy above 105 for targets of 108, 111 SL 101: Target 125.55 achieved

POSITIONAL TRADE
Vipind: Buy above 647 for target of 689 SL 625 (One Week)
FDC: Buy above 114 for target of 122 SL 111 (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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