Market outlook for 10/11/10

Nifty closed up 28.35 points (0.45%) at 6301.55 whilst Nifty November Future closed at 6333.45 premium of 31.90 points.
Bank Nifty closed up 16.25 points (0.12%) at 13121.35 whilst November Future closed at 13193.10 premium of 71.75 points.

• FII bought in Cash (Net buy 474.53 Crore)
• FII sold in index future but bought in index option and stock future (Net sell 480.33 Crore)
• DII sold in Cash (Net sell 528.67 Crore)
• US market is trading 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 804:568

NIFTY TECHNICAL

Current Spot: 6301.55
Pivot: 6285
5DEMA: 6256
10DEMA: 6201
20DEMA: 6141
50DEMA: 5992
RSI (7 days): 71.23
Parabolic SAR: 6034
Supports: 6260 - 6218
Resistance: 6327 - 6353

Nifty Future VWAP: 6306.00
Bank Nifty Future VWAP: 13127.92
MP Values Spot: VAH - 6310, POC - 6296, VAL - 6266
MP Values Futures: VAH - 6337, POC - 6329, VAL - 6305
MP Values Bank Nifty Futures: VAH - 13167, POC - 13082, VAL - 13065

TARGET NIFTY
Buy Nifty Future above 6338 - 6363 - 6396 - 6449 SL - 6311
Sell Nifty Future below 6304 - 6284 - 6232 - 6199 SL - 6317

INTRADAY TRADE
Reliance Industries: Buy above 1114 for targets of 1118, 1126, 1138 SL 1106
Reliance Industries: Sell below 1103 for targets of 1100, 1094, 1086 SL 1112
Nehaint: Buy above 228 for targets of 233, 239 SL 219
Assamco: Buy above 28 for targets of 28.8, 30 SL 26.8

SCORE SHEET
Voltamp: Buy above 887 for targets of 896, 910 SL 878: Target 894 achieved
AmbujaCem: Buy above 165 for targets of 167, 171 SL 161: Call not triggered

POSITIONAL TRADE
Hindunilvr: Buy above 320 for target of 339 SL 315 (One Week)
JetAirways: Buy above 893 for target of 952 SL 862 (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