Market outlook for 19/11/10

Nifty closed up 10.10 points (0.17%) at 5998.80 whilst Nifty November Future closed at 6031.60 premium of 32.80 points.
Bank Nifty closed down 209.30 points (1.67%) at 12315.15 whilst November Future closed at 12375.35 premium of 60.20 points.

• FII sold in Cash (Net sell 452.71)
• FII sold in index future, index option and stock future (Net sell 1557.22 Crore)
• DII bought in Cash (Net buy 118.43 Crore)
• US market is trading in GREEN.
• Global cues are positive.
• SGX nifty is positive as of now.
• Most Active Nifty November Call Option: 6000 and 6100.
• Most Active Nifty November Put Options: 6000 and 5900.
• Advance Decline for the day was 413:976

NIFTY TECHNICAL

Current Spot: 5998.80
Pivot: 5980
5DEMA: 6070
10DEMA: 6114
20DEMA: 6119
50DEMA: 6016
RSI (7 days): 33.17
Parabolic SAR: 6293
Supports: 5926 - 5853
Resistance: 6053 - 6106

Nifty Future VWAP: 6003.98
Bank Nifty Future VWAP: 12334.05
MP Values Spot: VAH - 6028, POC - 5992, VAL - 5956
MP Values Futures: VAH - 6045, POC - 6035, VAL - 6005
MP Values Bank Nifty Futures: VAH - 12390, POC - 12305, VAL - 12232

TARGET NIFTY
Buy Nifty Future above 6036 - 6081 - 6132 - 6203 SL - 6002
Sell Nifty Future below 5996 - 5956 - 5877 - 5825 SL - 6008

INTRADAY TRADE
Reliance Industries: Buy above 1036 for targets of 1044, 1054, 1065 SL 1030
Reliance Industries: Sell below 1027 for targets of 1022, 1016, 1000 SL 1035
Hindalco: Buy above 224 for targets of 227, 233 SL 218
Lupin: Buy above 495 for targets of 500, 509 SL 488

SCORE SHEET
Yesbank: Buy above 335.7 for targets of 338, 345 SL 330: Target 341.20 achieved
TataSteel: Buy above 608 for targets of 614, 622 SL 597: Target 626.50 achieved

POSITIONAL TRADE
Gmdcltd: Buy above 147 for target of 156 SL 142 (One Week)
Ashokley: Buy above 76.5 for target of 80 SL 74 (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