Market outlook for 23/11/10

Nifty closed up 119.70 points (2.03%) at 6010.00 whilst Nifty November Future closed at 6010.00.
Bank Nifty closed up 327.15 points (2.71%) at 12390.10 whilst November Future closed at 12408.80 premium of 18.70 points.

• FII bought in Cash (Net buy 335.80)
• FII bought in index future, stock future but sold in index option (Net buy 1136.67 Crore)
• DII bought in Cash (Net buy 212.12 Crore)
• US market is trading negative.
• Global cues are flat to negative.
• SGX nifty is negative as of now.
• Most Active Nifty November Call Option: 5900 and 6000.
• Most Active Nifty November Put Options: 6000 and 5900.
• Advance Decline for the day was 952:422

NIFTY TECHNICAL

Current Spot: 6010.00
Pivot: 5978
5DEMA: 6010
10DEMA: 6062
20DEMA: 6089
50DEMA: 6015
RSI (7 days): 42.50
Parabolic SAR: 6220
Supports: 5937 - 5863
Resistance: 6052 - 6094

Nifty Future VWAP: 5967.18
Bank Nifty Future VWAP: 12261.41
MP Values Spot: VAH - 5980, POC - 5944, VAL - 5908
MP Values Futures: VAH - 5995, POC - 5938, VAL - 5932
MP Values Bank Nifty Futures: VAH - 12430, POC - 12400, VAL - 12220

TARGET NIFTY
Buy Nifty Future above 6015 - 6035 - 6060 - 6099 SL - 5979
Sell Nifty Future below 5973 - 5951 - 5925 - 5891 SL - 5985

INTRADAY TRADE
Reliance Industries: Buy above 1015 for targets of 1018, 1024, 1036 SL 1006
Reliance Industries: Sell below 1004 for targets of 1002, 997, 989 SL 1011
JaiCorpltd: Buy above 265 for targets of 270, 279 SL 254
Manappuram: Buy above 183 for targets of 188, 195 SL 179

SCORE SHEET
Educomp: Buy above 608 for targets of 615, 625 SL 594: Target 634.40 achieved
Uflex: Buy above 251 for targets of 255, 261 SL 247: Target 264.90 achieved

POSITIONAL TRADE
KGL: Buy above 31.7 for target of 34 SL 30.8 (One Week)
KFA: Buy above 79 for target of 83 SL 76.5 (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