Wednesday, December 1, 2010

Market outlook for 02/12/10

Nifty closed up 98.20 points (1.67%) at 5960.90 while Nifty December Future closed at 5979.10 premium of 18.20 points
Bank Nifty closed up 358.15 points (3.00%) at 12310.75 while December Future closed at 12352.00 premium of 41.25 points.

  • FII bought in Cash (Net buy 491.88)
  • FII bought in index future and stock future (Net buy 1670.59 Crore)
  • DII sold in Cash (Net sell 199.85 Crore)
  • US market is trading in Green.
  • Global cues are flat to positive.
  • SGX nifty is flat as of now.
  • Most Active Nifty December Call Option: 6000 and 6100.
  • Most Active Nifty December Put Options: 5900 and 5800.
  • Advance Decline for the day was 1234:156

NIFTY TECHNICAL
Current Spot: 5960.90
Pivot: 5932
5DEMA: 5886
10DEMA: 5913
20DEMA: 5974
50DEMA: 5973
RSI (7 days): 52.99
Parabolic SAR: 5690
Supports: 5894 - 5827
Resistance: 5999 - 6038
Nifty Future VWAP: 5846.28
Bank Nifty Future VWAP: 12245.88
MP Values Spot (Price Profile): VAH - 5956, POC - 5926, VAL - 5896
MP Values Futures: VAH - 5984, POC - 5975, VAL - 5937
MP Values Bank Nifty Futures: VAH - 12370, POC - 12347, VAL - 12216

TARGET NIFTY
Buy Nifty Future above 5984 - 6019 - 6062 - 6135 SL - 5945
Sell Nifty Future below 5939 - 5908 - 5835 - 5792 SL - 5951

INTRADAY TRADE
Reliance Industries: Buy above 995 for targets of 997, 1002, 1008 SL 987
Reliance Industries: Sell below 984 for targets of 982, 978, 970 SL 992
Aban: Buy above 744 for targets of 749, 758 SL 736
HDIL: Buy above 198 for targets of 201, 205 SL 195

SCORE SHEET
Coreprotec: Buy above 257 for targets of 263, 270 SL 245: Target 268.60 achieved
Orbitcorp: Buy above 83 for targets of 86, 90 SL 79: Target 91.40 achieved

POSITIONAL TRADE
IOC: Buy above 387 for target of 425 SL 374 (One Week)
HCC: Buy above 52 for target of 55 SL 50 (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

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