Market outlook for 10/12/10

Nifty closed down 137.20 points (2.32%) at 5766.50 while Nifty December Future closed at 5779.90 premium of 13.40 points
Bank Nifty closed down 344.15 points (3.00%) at 11116.05 while December Future closed at 11185.35 premium of 69.30 points.

• FII sold huge in Cash (Net sell 1296.30 Crore)
• FII bought in index future, index option (Net buy 820.00 Crore)
• DII bought in Cash (Net buy 827.92 Crore)
• US market is trading flat.
• Global cues are flat to negative.
• SGX nifty is flat as of now.
• Most Active Nifty December Call Option: 5900 and 6000.
• Most Active Nifty December Put Options: 5800 and 5700.
• Advance Decline for the day was 66:1336

NIFTY TECHNICAL

Current Spot: 5766.50
Pivot: 5812
5DEMA: 5887
10DEMA: 5914
20DEMA: 5953
50DEMA: 5977
RSI (7 days): 28.77
Parabolic SAR: 6069
Supports: 5697 - 5627
Resistance: 5882 - 5997
Nifty Future VWAP: 5848.29
Bank Nifty Future VWAP: 11378.76
MP Values Spot (Price Profile): VAH - 5912, POC - 5890, VAL - 5804
MP Values Futures: VAH - 5880, POC - 5824, VAL - 5768
MP Values Bank Nifty Futures: VAH - 11614, POC - 11460, VAL - 11230

TARGET NIFTY
Buy Nifty Future above 5830 - 5852 - 5891 - 5962 SL - 5821
Sell Nifty Future below 5771 - 5747 - 5714 - 5645 SL - 5829

INTRADAY TRADE
Reliance Industries: Buy above 1004 for targets of 1007, 1012, 1019 SL 997
Reliance Industries: Sell below 980 for targets of 976, 970, 961 SL 1001
NTPC: Buy above 190.5 for targets of 192, 195 SL 188
IBRealest: Buy above 133 for targets of 135, 139 SL 131

SCORE SHEET
Hindpetro: Buy above 412 for targets of 416, 424 SL 407: Target 421 achieved
Ranbaxy: Buy above 569 for targets of 571, 576 SL 564: Target 573 achieved

POSITIONAL TRADE
Orchidchem: Buy above 255 for target of 296 SL 93 (Two Weeks)
Hindalco: Buy above 216 for target of 228 SL 213 (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