Market outlook for 07/12/10

Nifty closed down 0.55 points (0.01%) at 5992.25 while Nifty December Future closed at 6001.65 premium of 9.40 points
Bank Nifty closed down 298.00 points (2.41%) at 12051.20 while December Future closed at 12094.00 premium of 42.80 points.

• FII sold in Cash (Net sell 201.62 Crore)
• FII sold in index future, index option but bought in stock future (Net sell 788.48 Crore)
• DII sold in Cash (Net sell 313.89 Crore)
• US market is trading in Red.
• Global cues are flat to negative.
• 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 544:830

NIFTY TECHNICAL

Current Spot: 5992.25
Pivot: 6014
5DEMA: 5964
10DEMA: 5964
20DEMA: 5980
50DEMA: 5984
RSI (7 days): 55.38
Parabolic SAR: 5725
Supports: 5959 - 5927
Resistance: 6047 - 6102

Nifty Future VWAP: 6047.81
Bank Nifty Future VWAP: 12270.70
MP Values Spot (Price Profile): VAH - 6066, POC - 6046, VAL - 6026
MP Values Futures: VAH - 6078, POC - 6046, VAL - 6014
MP Values Bank Nifty Futures: VAH - 12354, POC - 12148, VAL - 12048

TARGET NIFTY
Buy Nifty Future above 6032 - 6064 - 6118 - 6156 SL - 6025
Sell Nifty Future below 5993 - 5965 - 5926 - 5859 SL - 6031

INTRADAY TRADE
Reliance Industries: Buy above 1026 for targets of 1028, 1033, 1040 SL 1018
Reliance Industries: Sell below 1015 for targets of 1013, 1007, 998 SL 1024
CyberMedia: Buy above 25.1 for targets of 26.1, 27.1 SL 24.7
Ster: Buy above 172.5 for targets of 174, 177 SL 170.5

SCORE SHEET
SesaGoa: Buy above 309 for targets of 312, 316 SL 306: Target 313.65 achieved
Renuka: Buy above 91.5 for targets of 93, 95.5 SL 90: Target 93.80 achieved

POSITIONAL TRADE
TWL: Buy above 555 for target of 595 SL 547 (One Week)
CineMax: Buy above 62.5 for target of 67.5 SL 59.5 (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