Thursday, December 23, 2010

Market outlook for 24/12/10

Nifty closed down 4.40 points (0.07%) at 5980.00 while Nifty December Future closed at 5996.15 premium of 16.15 points
Bank Nifty closed up 1.35 points (0.01%) at 11469.05 while December Future closed at 11507.90 premium of 38.85 points.

  • FII sold in Cash (Net sell 143.10 Crore)
  • FII bought in index future but sold in stock future, index option (Net buy 109.24 Crore)
  • DII sold in Cash (Net sell 88.63 Crore)
  • US market is trading flat to negative.
  • 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 585:786

NIFTY TECHNICAL
Current Spot: 5980.00
Pivot: 5984
5DEMA: 5968
10DEMA: 5951
20DEMA: 5951
50DEMA: 5986
RSI (7 days): 56.74
Parabolic SAR: 5739
Supports: 5961 - 5942
Resistance: 6003 - 6026
Nifty Future VWAP: 5996.03
Bank Nifty Future VWAP: 11511.33
MP Values Spot (Price Profile): VAH - 5992, POC - 5984, VAL - 5976
MP Values Futures: VAH - 6004, POC - 5996, VAL - 5988
MP Values Bank Nifty Futures: VAH - 11538, POC - 11510, VAL - 11482

TARGET NIFTY
Buy Nifty Future above 6001 - 6009 - 6024 - 6040 SL - 5993
Sell Nifty Future below 5987 - 5980 - 5968 - 5953 SL - 5999
Buy BankNifty Future above 11519 - 11561 - 11620 - 11677 SL - 11504
Sell BankNifty Future below 11491 - 11457 - 11400 - 11341 SL - 11516

INTRADAY TRADE
Reliance Industries: Buy above 1062 for targets of 1064, 1069, 1077 SL 1056
Reliance Industries: Sell below 1053 for targets of 1051, 1047, 1040 SL 1061
Polaris: Buy above 180 for targets of 183, 186 SL 178
SunPharma: Buy above 455 for targets of 459, 466 SL 446

SCORE SHEET
UFlex: Buy above 208 for targets of 211, 214 SL 205: Target 211.55 achieved
Escorts: Buy above 176 for targets of 177.5, 180 SL 174: Target 178.00 achieved

POSITIONAL TRADE
Jindalphot: Buy above 248 for target of 272 SL 236 (One Week)
Bergepaint: Buy above 96.5 for target of 99 SL 95 (2-3 Days)

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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