Market outlook for 09/11/10

Nifty closed down 39.25 points (0.62%) at 6273.20 whilst Nifty November Future closed at 6296.80 premium of 23.60 points.
Bank Nifty closed down 163.60 points (1.23%) at 13105.10 whilst November Future closed at 13147.75 premium of 42.65 points.

• FII bought in Cash (Net buy 505.54 Crore)
• FII bought in index option but sold in index future and stock future (Net buy 820.88 Crore)
• DII sold in Cash (Net sell 471.43 Crore)
• US market is trading negative.
• Global cues are flat to negative.
• SGX nifty is flat as of now.
• Most Active Nifty November Call Option: 6300 and 6400.
• Most Active Nifty November Put Options: 6200 and 6100.
• Advance Decline for the day was 615:770

NIFTY TECHNICAL

Current Spot: 6273.20
Pivot: 6291
5DEMA: 6234
10DEMA: 6178
20DEMA: 6124
50DEMA: 5979
RSI (7 days): 68.57
Parabolic SAR: 6008
Supports: 6247 - 6221
Resistance: 6317 - 6361

Nifty Future VWAP: 6302.52
Bank Nifty Future VWAP: 13161.65
MP Values Spot: VAH - 6300, POC - 6286, VAL - 6272
MP Values Futures: VAH - 6308, POC - 6300, VAL - 6296
MP Values Bank Nifty Futures: VAH - 13182, POC - 13150, VAL - 13130

TARGET NIFTY
Buy Nifty Future above 6311 - 6327 - 6361 - 6385 SL - 6303
Sell Nifty Future below 6287 - 6276 - 6252 - 6218 SL - 6309

INTRADAY TRADE
Reliance Industries: Buy above 1115 for targets of 1118, 1126, 1136 SL 1108
Reliance Industries: Sell below 1105 for targets of 1102, 1095, 1086 SL 1113
Voltamp: Buy above 887 for targets of 896, 910 SL 878
AmbujaCem: Buy above 165 for targets of 167, 171 SL 161

SCORE SHEET
GmdcLtd: Buy above 170 for targets of 173, 176 SL 167.5: Stoploss Hit
Smpl: Buy above 44 for targets of 45, 46.5 SL 42.5: Target 45.25 achieved

POSITIONAL TRADE
Finantech: Buy above 1058 for target of 1090 SL 1032 (One Week)
SesaGoa: Buy above 343 for target of 359 SL 334 (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