Wednesday, December 15, 2010

Market outlook for 16/12/10

Nifty closed down 51.80 points (0.62%) at 5892.30 while Nifty December Future closed at 5895.10 premium of 2.80 points
Bank Nifty closed down 364.20 points (3.15%) at 11196.30 while December Future closed at 11215.90 premium of 19.60 points.

  • FII sold in Cash (Net sell 87.61 Crore)
  • FII sold in index future, index option but bought in stock future (Net sell 443.97 Crore)
  • DII sold in Cash (Net sell 97.80 Crore)
  • US market is trading flat to positive.
  • Global cues are flat.
  • SGX nifty is positive as of now.
  • Most Active Nifty December Call Option: 5900 and 6000.
  • Most Active Nifty December Put Options: 5900 and 5800.
  • Advance Decline for the day was 327:1054

NIFTY TECHNICAL
Current Spot: 5892.30
Pivot: 5900
5DEMA: 5902
10DEMA: 5908
20DEMA: 5937
50DEMA: 5981
RSI (7 days): 46.73
Parabolic SAR: 6023
Supports: 5858 - 5823
Resistance: 5935 - 5977
Nifty Future VWAP: 5910.19
Bank Nifty Future VWAP: 11341.30
MP Values Spot (Price Profile): VAH - 5920, POC – 5902, VAL - 5884
MP Values Futures: VAH - 5934, POC - 5912, VAL - 5890
MP Values Bank Nifty Futures: VAH - 11510, POC - 11396, VAL - 11282

TARGET NIFTY
Buy Nifty Future above 5910 - 5926 - 5945 - 6065 SL - 5890
Sell Nifty Future below 5890 - 5874 - 5855 - 5836 SL - 5909

INTRADAY TRADE
Reliance Industries: Buy above 1056 for targets of 1064, 1072, 1080 SL 1048
Reliance Industries: Sell below 1047 for targets of 1041, 1033, 1025 SL 1056
TCS: Buy above 1106 for targets of 1112, 1120 SL 1095
Satyamcomp: Buy above 66.5 for targets of 67.6, 69 SL 64.7

SCORE SHEET
Vipind: Buy above 610 for targets of 618, 630 SL 599: Target 625 achieved
Gitanjali: Buy above 204 for targets of 207, 212 SL 198: Target 209.8 achieved

POSITIONAL TRADE
UFlex: Buy above 211 for target of 223 SL 207 (One Week)
BindalAgro: Buy above 27 for target of 29.5 SL 26.3 (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

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