Market outlook for 23/12/10

Nifty closed down 16.25 points (0.27%) at 5984.40 while Nifty December Future closed at 5999.55 premium of 15.15 points
Bank Nifty closed down 69.55 points (0.60%) at 11467.70 while December Future closed at 11504.00 premium of 36.30 points.

• FII sold in Cash (Net sell 67.57 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 947.02 Crore)
• DII bought in Cash (Net buy 98.93 Crore)
• US market is trading flat.
• 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 736:640

NIFTY TECHNICAL

Current Spot: 5984.25
Pivot: 5989
5DEMA: 5963
10DEMA: 5945
20DEMA: 5949
50DEMA: 5989
RSI (7 days): 57.65
Parabolic SAR: 5727
Supports: 5954 - 5923
Resistance: 6019 - 6055

Nifty Future VWAP: 6013.54
Bank Nifty Future VWAP: 11563.59
MP Values Spot (Price Profile): VAH - 6022, POC – 6010, VAL - 5990
MP Values Futures: VAH - 6032, POC - 6025, VAL - 6000
MP Values Bank Nifty Futures: VAH - 11630, POC - 11588, VAL - 11515

TARGET NIFTY
Buy Nifty Future above 6011 - 6033 - 6060 - 6093 SL - 6003
Sell Nifty Future below 5991 - 5973 - 5943 - 5907 SL - 6009

INTRADAY TRADE
Reliance Industries: Buy above 1065 for targets of 1068, 1074, 1084 SL 1057
Reliance Industries: Sell below 1051 for targets of 1048, 1042, 1035 SL 1062
UFlex: Buy above 208 for targets of 211, 214 SL 205
Escorts: Buy above 176 for targets of 177.5, 180 SL 174

SCORE SHEET
Voltas: Buy above 220 for targets of 222, 225 SL 218.5: Target 223.55 achieved
Nelcast: Buy above 89 for targets of 92, 95 SL 86: Target 93.00 achieved

POSITIONAL TRADE
Jindalpoly: Buy above 536 for target of 563 SL 520 (One Week)
IFCI: Buy above 67 for target of 72 SL 66 (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