Market outlook for 16/11/10

Nifty closed up 49.95 points (0.82%) at 6121.60 whilst Nifty November Future closed at 6140.25 premium of 18.65 points.
Bank Nifty closed up 304.85 points (2.45%) at 12754.50 whilst November Future closed at 12789.95 premium of 27.80 points.

• FII bought in Cash (Net buy 313.68)
• FII sold in index future, index option but bought in stock future (Net sell 1667.02 Crore)
• DII sold in Cash (Net sell 3.39 Crore)
• US market is trading flat to positive.
• Global cues are flat.
• SGX nifty is flat as of now.
• Most Active Nifty November Call Option: 6100 and 6200.
• Most Active Nifty November Put Options: 6100 and 6000.
• Advance Decline for the day was 510:867

NIFTY TECHNICAL

Current Spot: 6121.60
Pivot: 6097
5DEMA: 6163
10DEMA: 6174
20DEMA: 6147
50DEMA: 6013
RSI (7 days): 43.41
Parabolic SAR: 6333
Supports: 6064 - 6007
Resistance: 6154 - 6186

Nifty Future VWAP: 6103.97
Bank Nifty Future VWAP: 12677.12
MP Values Spot: VAH - 6106, POC - 6084, VAL - 6062
MP Values Futures: VAH - 6113, POC - 6086, VAL - 6077
MP Values Bank Nifty Futures: VAH - 12770, POC - 12715, VAL - 12634

TARGET NIFTY
Buy Nifty Future above 6145 - 6170 - 6200 - 6255 SL - 6113
Sell Nifty Future below 6107 - 6087 - 6031 - 5999 SL - 6120

INTRADAY TRADE
Reliance Industries: Buy above 1057 for targets of 1061, 1068, 1081 SL 1051
Reliance Industries: Sell below 1048 for targets of 1044, 1038, 1027 SL 1056
Syndibank: Buy above 159 for targets of 163, 169 SL 153
Sujanatow: Buy above 214 for targets of 217, 221 SL 209

SCORE SHEET
Eclerx: Buy above 665 for targets of 673, 686 SL 658: Target 697.90 achieved
Dhanbank: Buy above 185 for targets of 187, 191 SL 181: Call not activated

POSITIONAL TRADE
Navnetpubl: Buy above 66 for target of 70 SL 64 (One Week)
Prakashstl: Buy above 172 for target of 190 SL 164 (2-3 Days)

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