Market outlook for 31/12/10

Nifty closed up 41.50 points (0.68%) at 6101.85 while Nifty January Future closed at 6130.80 premium of 28.95 points
Bank Nifty closed up 16.40 points (0.14%) at 11629.30 while January Future closed at 11680.10 premium of 50.80 points.

• FII bought huge in Cash (Net buy 2186.44 Crore)
• FII bought in index future, stock future but sold in index option (Net buy 183.76 Crore)
• DII sold in Cash (Net sell 848.29 Crore)
• US market is trading flat.
• Global cues are flat.
• SGX nifty is flat as of now.
• Most Active Nifty January Call Option: 6100 and 6200.
• Most Active Nifty December Put Options: 6100 and 6000.
• Advance Decline for the day was 794:587

NIFTY TECHNICAL

Current Spot: 6101.85
Pivot: 6090
5DEMA: 6043
10DEMA: 6010
20DEMA: 5986
50DEMA: 6000
RSI (7 days): 73.88
Parabolic SAR: 5821
Supports: 6074 - 6046
Resistance: 6118 - 6134

Nifty Future VWAP: 6124.80
Bank Nifty Future VWAP: 11685.04
MP Values Spot (Price Profile): VAH - 6088, POC - 6078, VAL - 6068
MP Values Futures: VAH - 6131, POC - 6123, VAL - 6115
MP Values Bank Nifty Futures: VAH - 11705, POC - 11680, VAL - 11655

TARGET NIFTY
Buy Nifty Future above 6135 - 6142 - 6157 - 6177 SL - 6122
Sell Nifty Future below 6116 - 6110 - 6093 - 6079 SL - 6128
Buy BankNifty Future above 11693 - 11730 - 11786 - 11838 SL - 11678
Sell BankNifty Future below 11663 - 11634 - 11582 - 11527 SL - 11690

INTRADAY TRADE
Reliance Industries: Buy above 1054 for targets of 1056, 1058, 1063 SL 1048
Reliance Industries: Sell below 1046 for targets of 1045, 1043, 1040 SL 1054
Hindoilexp: Buy above 238 for targets of 241, 245 SL 232
RajeshExpo: Buy above 137 for targets of 139, 144 SL 132

SCORE SHEET
Ster: Buy above 186 for targets of 187, 189 SL 183: Target 189.95 achieved
Aban: Buy above 771 for targets of 776, 784 SL 759: Target 814.80 achieved

POSITIONAL TRADE
GMDCLtd: Buy above 141 for target of 149 SL 138 (One Week)
Ruchisoya: Buy above 122 for target of 131 SL 117 (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