Market outlook for 08/12/10

Nifty closed down 15.70 points (0.26%) at 5976.55 while Nifty December Future closed at 6009.50 premium of 32.95 points
Bank Nifty closed down 355.90 points (2.95%) at 11695.30 while December Future closed at 11785.45 premium of 90.15 points.

• FII sold in Cash (Net sell 522.83 Crore)
• FII sold in index future, stock future but bought in index option (Net sell 740.20 Crore)
• DII sold in Cash (Net sell 427.22 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: 6000 and 5900.
• Advance Decline for the day was 326:1058

NIFTY TECHNICAL

Current Spot: 5976.55
Pivot: 6072
5DEMA: 5968
10DEMA: 5956
20DEMA: 5980
50DEMA: 5986
RSI (7 days): 52.72
Parabolic SAR: 5745
Supports: 5944 - 5911
Resistance: 6005 - 6034

Nifty Future VWAP: 5991.80
Bank Nifty Future VWAP: 11793.87
MP Values Spot (Price Profile): VAH - 5988, POC - 5974, VAL - 5960
MP Values Futures: VAH - 6003, POC - 5990, VAL - 5978
MP Values Bank Nifty Futures: VAH - 11845, POC - 11808, VAL - 11764

TARGET NIFTY
Buy Nifty Future above 6014 - 6032 - 6058 - 6098 SL - 5993
Sell Nifty Future below 5987 - 5973 - 5933 - 5907 SL - 5999

INTRADAY TRADE
Reliance Industries: Buy above 1033 for targets of 1036, 1041, 1047 SL 1028
Reliance Industries: Sell below 1025 for targets of 1023, 1019, 1013 SL 1033
Hanung: Buy above 235 for targets of 239, 244 SL 229
Hindalco: Buy above 227.5 for targets of 229, 232 SL 225

SCORE SHEET
CyberMedia: Buy above 25.1 for targets of 26.1, 27.1 SL 24.7: Target 27.40 achieved
Ster: Buy above 172.5 for targets of 174, 177 SL 170.5: Target 173.90 achieved

POSITIONAL TRADE
Hexaware: Buy above 101 for target of 101 SL 96 (One Week)
Subex: Buy above 77.5 for target of 82 SL 74.55 (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