Market outlook for 12/11/10

Nifty closed down 81.45 points (1.30%) at 6194.25 whilst Nifty November Future closed at 6232.55 premium of 38.30 points.
Bank Nifty closed down 183.50 points (1.41%) at 12823.60 whilst November Future closed at 12906.10 premium of 82.50 points.

• FII sold in Cash (Net sell 60.42 Crore)
• FII sold in index future, stock future but bought in index option (Net sell 540.95 Crore)
• DII sold in Cash (Net sell 269.69 Crore)
• US market is trading in RED.
• Global cues are Negative.
• SGX nifty is negative 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 450:932

NIFTY TECHNICAL

Current Spot: 6194.25
Pivot: 6223
5DEMA: 6240
10DEMA: 6211
20DEMA: 6158
50DEMA: 6006
RSI (7 days): 50.16
Parabolic SAR: 6081
Supports: 6150 - 6106
Resistance: 6267 - 6340

Nifty Future VWAP: 6263.94
Bank Nifty Future VWAP: 13008.22
MP Values Spot: VAH - 6292, POC - 6266, VAL - 6210
MP Values Futures: VAH - 6307, POC - 6287, VAL - 6245
MP Values Bank Nifty Futures: VAH - 13115, POC - 13080, VAL - 12955

TARGET NIFTY
Buy Nifty Future above 6259 - 6296 - 6363 - 6408 SL - 6251
Sell Nifty Future below 6223 - 6191 - 6146 - 6079 SL - 6257

INTRADAY TRADE
Reliance Industries: Buy above 1095 for targets of 1100, 1112, 1122 SL 1087
Reliance Industries: Sell below 1075 for targets of 1071, 1065, 1056 SL 1092
Hanung: Buy above 402 for targets of 405, 410 SL 398
RPower: Buy above 192 for targets of 195, 200 SL 186

SCORE SHEET
GEShip: Buy above 393 for targets of 397, 405 SL 384: Call not activated
Spic: Buy above 34.5 for targets of 35.5, 37 SL 33: Call not activated

POSITIONAL TRADE
Nirma: Buy above 229 for target of 239 SL 226 (One Week)
Deltacorp: Buy above 133 for target of 151 SL 131 (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