Monday, November 8, 2010

Market outlook for 08/11/10

Nifty closed up 30.65 points (0.49%) at 6312.45 whilst Nifty November Future closed at 6325.05 premium of 12.60 points.
Bank Nifty closed up 85.80 points (0.65%) at 13268.70 whilst November Future closed at 13267.65 discount of 1.05 points.
  • FII bought in Cash (Net buy 167.47 Crore)
  • FII bought in index future, index option, and stock future (Net buy 365.58 Crore)
  • DII also bought in Cash (Net buy 23.90 Crore)
  • US market ended flat.
  • Global cues are Positive.
  • SGX nifty is positive as of now.
  • Most Active Nifty November Call Option: 6300 and 6400.
  • Most Active Nifty November Put Options: 6300 and 6200.
  • Advance Decline for the day was 1130:230
NIFTY TECHNICAL
Current Spot: 6312.45
Pivot: 6318
5DEMA: 6214
10DEMA: 6157
20DEMA: 6109
50DEMA: 5963
RSI (7 days): 77.00
Parabolic SAR: 5979
Supports: 6298 - 6283
Resistance: 6333 - 6353
Nifty Future VWAP: 6329.00
Bank Nifty Future VWAP: 13267.15
MP Values Spot: VAH - 6316, POC - 6312, VAL - 6308
From Thursday:
MP Values Futures: VAH - 6300, POC - 6291, VAL - 6274
MP Values Bank Nifty Futures: VAH - 13210, POC - 13168, VAL - 13105
From Friday:
MP Values Futures: VAH - 6330, POC - 6324, VAL - 6320
MP Values Bank Nifty Futures: VAH - 13280, POC - 13268, VAL - 13260

TARGET NIFTY
Buy Nifty Future above 6335 - 6341 - 6359 - 6373 SL - 6327
Sell Nifty Future below 6316 - 6311 - 6301 - 6282 SL - 6333

INTRADAY TRADE
Reliance Industries: Buy above 1113 for targets of 1115, 1122, 1130 SL 1105
Reliance Industries: Sell below 1100 for targets of 1098, 1093, 1084 SL 1111
GmdcLtd: Buy above 170 for targets of 173, 176 SL 167.5
Smpl: Buy above 44 for targets of 45, 46.5 SL 42.5

SCORE SHEET
Gitanjali: Buy above 320 for targets of 325, 332 SL 315: Target 339.20 achieved
Dishtv: Buy above 63 for targets of 64.5, 67 SL 61.5: Target 67.70 achieved

POSITIONAL TRADE
Nitinfire: Buy above 89 for target of 98 SL 86 (One Week)
OnMobile: Buy above 343 for target of 354 SL 338 (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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