Tuesday, December 21, 2010

Market outlook for 21/12/10

Nifty closed down 1.70 points (0.03%) at 5947.05 while Nifty December Future closed at 5959.05 premium of 12.00 points
Bank Nifty closed down 157.05 points (1.37%) at 11267.10 while December Future closed at 11296.45 premium of 29.35 points.

  • FII sold in Cash (Net sell 109.52 Crore)
  • FII bought in index future, stock future, and index option (Net buy 778.67 Crore)
  • DII bought in Cash (Net buy 139.45 Crore)
  • US market ended flat.
  • Global cues are flat.
  • SGX nifty is flat to negative 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 712:674

NIFTY TECHNICAL
Current Spot: 5947.05
Pivot: 5944
5DEMA: 5927
10DEMA: 5921
20DEMA: 5939
50DEMA: 5988
RSI (7 days): 53.77
Parabolic SAR: 5999
Supports: 5903 - 5859
Resistance: 5988 - 6029
Nifty Future VWAP: 5954.62
Bank Nifty Future VWAP: 11351.45
MP Values Spot (Price Profile): VAH - 5976, POC – 5950, VAL - 5924
MP Values Futures: VAH - 5973, POC - 5953, VAL - 5928
MP Values Bank Nifty Futures: VAH - 11370, POC - 11314, VAL - 11294

TARGET NIFTY
Buy Nifty Future above 5964 - 6003 - 6050 - 6103 SL - 5950
Sell Nifty Future below 5944 - 5909 - 5856 - 5809 SL - 5956

INTRADAY TRADE
Reliance Industries: Buy above 1059 for targets of 1065, 1073, 1081 SL 1054
Reliance Industries: Sell below 1051 for targets of 1048, 1041, 1033 SL 1059
UBL: Buy above 485 for targets of 490, 498 SL 477
IDFC: Buy above 175.5 for targets of 177, 180 SL 173

SCORE SHEET
Arvind: Buy above 65.2 for targets of 66, 68 SL 64: Call not activated
Camlin: Buy above 46 for targets of 46.6, 48 SL 45.2: Call not activated

POSITIONAL TRADE
Escorts: Buy above 165 for target of 170 SL 163 (2-3 Days)
GTLInfra: Buy above 42.7 for target of 45 SL 41.7 (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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