Market outlook for 03/12/10

Nifty closed up 50.80 points (0.85%) at 6011.70 while Nifty December Future closed at 6029.05 premium of 17.35 points
Bank Nifty closed up 161.85 points (1.31%) at 12472.60 while December Future closed at 12538.65 premium of 66.05 points.

• FII bought in Cash (Net buy 386.12)
• FII bought in index future, stock future and stock option (Net buy 1439.19 Crore)
• DII sold in Cash (Net sell 225.04 Crore)
• US market is trading in Green.
• Global cues are flat to positive.
• SGX nifty is positive as of now.
• Most Active Nifty December Call Option: 6000 and 6100.
• Most Active Nifty December Put Options: 6000 and 5900.
• Advance Decline for the day was 933:439

NIFTY TECHNICAL

Current Spot: 6011.70
Pivot: 6007
5DEMA: 5928
10DEMA: 5931
20DEMA: 5978
50DEMA: 5976
RSI (7 days): 58.06
Parabolic SAR: 5697
Supports: 5985 - 5958
Resistance: 6034 - 6056

Nifty Future VWAP: 6015.07
Bank Nifty Future VWAP: 12514.46
MP Values Spot (Price Profile): VAH - 6008, POC - 5998, VAL - 5988
MP Values Futures: VAH - 6030, POC - 6024, VAL - 6010
MP Values Bank Nifty Futures: VAH - 12560, POC - 12531, VAL - 12503

TARGET NIFTY
Buy Nifty Future above 6034 - 6045 - 6064 - 6093 SL - 6017
Sell Nifty Future below 6011 - 6003 - 5975 - 5956 SL - 6023

INTRADAY TRADE
Reliance Industries: Buy above 1014 for targets of 1016, 1021, 1030 SL 1004
Reliance Industries: Sell below 1001 for targets of 999, 993, 984 SL 1009
Raymond: Buy above 402 for targets of 409, 419 SL 392
Apollotyre: Buy above 72 for targets of 73, 74.5 SL 70

SCORE SHEET
Aban: Buy above 744 for targets of 749, 758 SL 736: Target 766.90 achieved
HDIL: Buy above 198 for targets of 201, 205 SL 195: Target 216.50 achieved

POSITIONAL TRADE
Dishman: Buy above 149 for target of 159 SL 144 (One Week)
Niitltd: Buy above 61 for target of 65 SL 59 (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