Market outlook for 20/12/10

Nifty closed up 56.45 points (0.96%) at 5948.75 while Nifty December Future closed at 5966.80 premium of 18.05 points
Bank Nifty closed up 227.85 points (2.04%) at 11196.30 while December Future closed at 11473.75 premium of 49.60 points.

• FII sold in Cash (Net sell 316.78 Crore)
• FII bought in stock future, index option but sold in index future (Net buy 1106.84 Crore)
• DII bought in Cash (Net buy 96.03 Crore)
• US market ended flat.
• Global cues are flat.
• SGX nifty is flat 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 764:602

NIFTY TECHNICAL

Current Spot: 5948.75
Pivot: 5920
5DEMA: 5917
10DEMA: 5915
20DEMA: 5938
50DEMA: 5978
RSI (7 days): 54.03
Parabolic SAR: 6011
Supports: 5884 - 5819
Resistance: 5985 - 6021

Nifty Future VWAP: 5916.80
Bank Nifty Future VWAP: 11353.70
MP Values Spot (Price Profile): VAH - 5916, POC – 5894, VAL - 5872
MP Values Futures: VAH - 5942, POC - 5900, VAL - 5864
MP Values Bank Nifty Futures: VAH - 11398, POC - 11294, VAL - 11190

TARGET NIFTY
Buy Nifty Future above 5971 - 6007 - 6045 - 6115 SL - 5934
Sell Nifty Future below 5928 - 5896 - 5855 - 5806 SL - 5940

INTRADAY TRADE
Reliance Industries: Buy above 1059 for targets of 1062, 1067, 1077 SL 1050
Reliance Industries: Sell below 1047 for targets of 1045, 1039, 1030 SL 1055
Arvind: Buy above 65.2 for targets of 66, 68 SL 64
Camlin: Buy above 46 for targets of 46.6, 48 SL 45.2

SCORE SHEET
TCS: Buy above 1106 for targets of 1112, 1120 SL 1095: Target 1140.7 achieved
Satyamcomp: Buy above 66.5 for targets of 67.6, 69 SL 64.7: Call not activated

POSITIONAL TRADE
AdaniPower: Buy above 125.2 for target of 131 SL 123 (One Week)
SterlinBio: Buy above 100 for target of 106 SL 99 (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