Market outlook for 24/11/10

Nifty closed down 75.25 points (1.25%) at 5934.75 whilst Nifty November Future closed at 5941.30 premium of 6.55 points
Bank Nifty closed down 183.65 points (1.48%) at 12206.45 whilst November Future closed at 12231.05 premium of 24.60 points.

• FII sold big in Cash (Net sell 1493.19)
• FII bought in index option, stock future but sold in index future (Net buy 1415.86 Crore)
• DII bought big in Cash (Net buy 1502.97 Crore)
• US market is trading in RED.
• 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 260:1126.

NIFTY TECHNICAL

Current Spot: 5934.75
Pivot: 5911
5DEMA: 5985
10DEMA: 6039
20DEMA: 6075
50DEMA: 6012
RSI (7 days): 36.43
Parabolic SAR: 6180
Supports: 5849 - 5763
Resistance: 5997 - 6059

Nifty Future VWAP: 5915.52
Bank Nifty Future VWAP: 12147.48
MP Values Spot: VAH - 5972, POC - 5946, VAL - 5898
MP Values Futures: VAH - 5960, POC - 5948, VAL - 5912
MP Values Bank Nifty Futures: VAH - 12262, POC - 12238, VAL - 12146

TARGET NIFTY
Buy Nifty Future above 5946 - 5996 - 6054 - 6119 SL - 5908
Sell Nifty Future below 5902 - 5856 - 5787 - 5719 SL - 5913

INTRADAY TRADE
Reliance Industries: Buy above 998 for targets of 1004, 1014, 1026 SL 989
Reliance Industries: Sell below 987 for targets of 983, 974, 961 SL 994
Jisljaleqs: Buy above 232 for targets of 236, 244 SL 228
Orchidchem: Buy above 324 for targets of 328, 333 SL 317

SCORE SHEET
JaiCorpltd: Buy above 265 for targets of 270, 279 SL 254: SL Hit
Manappuram: Buy above 183 for targets of 188, 195 SL 179: Call not activated

POSITIONAL TRADE
Sangamind: Buy above 56.5 for target of 64 SL 53.2 (One Week)
Gujnrecoke: Buy above 58 for target of 61 SL 57 (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