Market outlook for 22/11/10

Nifty closed down 108.50 points (1.81%) at 5890.30 whilst Nifty November Future closed at 5890.15 discount of 0.15 points.
Bank Nifty closed down 252.20 points (2.05%) at 12062.95 whilst November Future closed at 12086.70 premium of 23.75 points.

• FII bought in Cash (Net buy 367.91)
• FII bought in index future, index option and stock future (Net buy 733.54 Crore)
• DII bought in Cash (Net buy 300.19 Crore, who sold?)
• US market ended flat to positive.
• 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 202:1210

NIFTY TECHNICAL

Current Spot: 5890.30
Pivot: 5922
5DEMA: 6010
10DEMA: 6074
20DEMA: 6098
50DEMA: 6015
RSI (7 days): 25.58
Parabolic SAR: 6259
Supports: 5832 - 5774
Resistance: 5980 - 6070

Nifty Future VWAP: 5949.91
Bank Nifty Future VWAP: 12185.12
MP Values Spot: VAH - 5998, POC - 5966, VAL - 5934
MP Values Futures: VAH - 5994, POC - 5975, VAL - 5936
MP Values Bank Nifty Futures: VAH - 12255, POC - 12200, VAL - 12147

TARGET NIFTY
Buy Nifty Future above 5925 - 5979 - 6032 - 6071 SL - 5918
Sell Nifty Future below 5881 - 5832 - 5797 - 5771 SL - 5924

INTRADAY TRADE
Reliance Industries: Buy above 1011 for targets of 1015, 1023, 1035 SL 1004
Reliance Industries: Sell below 991 for targets of 984, 979, 960 SL 1009
Educomp: Buy above 608 for targets of 615, 625 SL 594
Uflex: Buy above 251 for targets of 255, 261 SL 247

SCORE SHEET
Hindalco: Buy above 224 for targets of 227, 233 SL 218: Call not activated
Lupin: Buy above 495 for targets of 500, 509 SL 488: Target 501.80 achieved

POSITIONAL TRADE
3iInfotech: Buy above 61 for target of 64 SL 58.5 (One Week)
Aban: Buy above 773 for target of 790 SL 759 (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