Market outlook for 06/12/10

Nifty closed down 18.90 points (0.31%) at 5992.80 while Nifty December Future closed at 6016.75 premium of 23.95 points
Bank Nifty closed down 123.40 points (0.99%) at 12349.20 while December Future closed at 12408.65 premium of 59.45 points.

• FII bought in Cash (Net buy 603.47)
• FII bought in index future, stock future but sold in stock option (Net buy 568.02 Crore)
• DII sold in Cash (Net sell 689.66 Crore)
• US market ended 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: 6000 and 5900.
• Advance Decline for the day was 216:1181

NIFTY TECHNICAL

Current Spot: 5992.80
Pivot: 5994
5DEMA: 5950
10DEMA: 5943
20DEMA: 5979
50DEMA: 5984
RSI (7 days): 55.46
Parabolic SAR: 5710
Supports: 5963 - 5933
Resistance: 6024 - 6055

Nifty Future VWAP: 6009.50
Bank Nifty Future VWAP: 12393.01
MP Values Spot (Price Profile): VAH - 6014, POC - 6002, VAL - 5990
MP Values Futures: VAH - 6025, POC - 6020, VAL - 6010
MP Values Bank Nifty Futures: VAH - 12440, POC - 12412, VAL - 12364

TARGET NIFTY
Buy Nifty Future above 6021 - 6041 - 6068 - 6104 SL - 6005
Sell Nifty Future below 5999 - 5984 - 5948 - 5921 SL - 6011

INTRADAY TRADE
Reliance Industries: Buy above 1014 for targets of 1017, 1023, 1033 SL 1007
Reliance Industries: Sell below 1001 for targets of 998, 993, 986 SL 1012
SesaGoa: Buy above 309 for targets of 312, 316 SL 306
Renuka: Buy above 91.5 for targets of 93, 95.5 SL 90

SCORE SHEET
Raymond: Buy above 402 for targets of 409, 419 SL 392: Target 417.00 achieved
Apollotyre: Buy above 72 for targets of 73, 74.5 SL 70: SL Hit

POSITIONAL TRADE
Neyvelilig: Buy above 134.3 for target of 142 SL 130.5 (One Week)
Bhel: Buy above 2216 for target of 2271 SL 2195 (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