Market outlook for 29/11/10

Nifty closed down 47.80 points (0.82%) at 5751.95 while Nifty December Future closed at 5778.15 premium of 26.20 points
Bank Nifty closed up 16.45 points (0.14%) at 11668.80 while December Future closed at 11718.80 premium of 49.95 points.

• FII sold in Cash (Net sell 628.77)
• FII bought in index future, index option and stock future (Net buy 3714.81 Crore)
• DII bought big in Cash (Net buy 959.41 Crore)
• US market closed in Red.
• Global cues are flat to negative.
• SGX nifty is flat as of now.
• Most Active Nifty December Call Option: 5900 and 6000.
• Most Active Nifty December Put Options: 5700 and 5600.
• Advance Decline for the day was 155:1243

NIFTY TECHNICAL

Current Spot: 5751.95
Pivot: 5760
5DEMA: 5848
10DEMA: 5930
20DEMA: 6004
50DEMA: 5984
RSI (7 days): 24.82
Parabolic SAR: 6038
Supports: 5682 - 56122
Resistance: 5830 - 5908

Nifty Future VWAP: 5798.28
Bank Nifty Future VWAP: 11706.71
MP Values Spot: VAH - 5806, POC - 5774, VAL - 5742
MP Values Future: VAH - 5826, POC - 5794, VAL - 5762

TARGET NIFTY
Buy Nifty Future above 5795 - 5851 - 5927 - 5991 SL - 5788
Sell Nifty Future below 5769 - 5717 - 5654 - 5578 SL - 5794

INTRADAY TRADE
Reliance Industries: Buy above 975 for targets of 980, 991, 1003 SL 968
Reliance Industries: Sell below 958 for targets of 954, 948, 941 SL 973
IRB: Buy above 216 for targets of 221, 228 SL 209
Sail: Buy above 175 for targets of 177, 180 SL 172.5

SCORE SHEET
Gujfluoro: Buy above 189 for targets of 193, 198 SL 187: Target 196.7 achieved
Lupin: Buy above 501 for targets of 505, 514 SL 496: Target 503.95 achieved

POSITIONAL TRADE
BankIndia: Buy above 432 for target of 469 SL 206 (One Week)
Camlin: Buy above 41.5 for target of 44 SL 40.7 (One week)

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