Market outlook for 22/12/10

Nifty closed up 53.60 points (0.90%) at 6000.65 while Nifty December Future closed at 6011.60 premium of 10.95 points
Bank Nifty closed up 270.15 points (2.40%) at 11537.25 while December Future closed at 11577.00 premium of 39.75 points.

• FII sold in Cash (Net sell 34.79 Crore)
• FII bought in index future, stock future but sold in index option (Net buy 773.63 Crore)
• DII bought in Cash (Net buy 373.67 Crore)
• US market is trading positive.
• Global cues are flat.
• 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 914:471

NIFTY TECHNICAL

Current Spot: 6000.65
Pivot: 5989
5DEMA: 5952
10DEMA: 5936
20DEMA: 5945
50DEMA: 5991
RSI (7 days): 60.70
Parabolic SAR: 5721
Supports: 5971 - 5942
Resistance: 6019 - 6037

Nifty Future VWAP: 6005.14
Bank Nifty Future VWAP: 11535.36
MP Values Spot (Price Profile): VAH - 5998, POC – 5990, VAL - 5982
MP Values Futures: VAH - 6016, POC - 6006, VAL - 5996
MP Values Bank Nifty Futures: VAH - 11610, POC - 11568, VAL - 11456

TARGET NIFTY
Buy Nifty Future above 6016 - 6029 - 6050 - 6080 SL - 5999
Sell Nifty Future below 5993 - 5984 - 5954 - 5933 SL - 6005

INTRADAY TRADE
Reliance Industries: Buy above 1076 for targets of 1078, 1083, 1089 SL 1066
Reliance Industries: Sell below 1063 for targets of 1061, 1055, 1049 SL 1071
Voltas: Buy above 220 for targets of 222, 225 SL 218.5
Nelcast: Buy above 89 for targets of 92, 95 SL 86

SCORE SHEET
UBL: Buy above 485 for targets of 490, 498 SL 477: Target 502.70 achieved
IDFC: Buy above 175.5 for targets of 177, 180 SL 173: Target 180.25 achieved

POSITIONAL TRADE
SterlinBio: Buy above 101 for target of 105 SL 99 (One Week)
SesaGoa: Buy above 301 for target of 318 SL 292 (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