Market outlook for 13/01/11

Nifty closed up 109.15 points (1.90%) at 5863.25 while Nifty January Future closed at 5874.25 premium of 11.00 points
Bank Nifty closed up 294.60 points (2.72%) at 11128.15 while January Future closed at 11153.95 premium of 25.80 points.

• FII sold in Cash (Net sell 371.50 Crore)
• FII bought in index option and stock future but sold in index future (Net buy 834.87 Crore)
• DII bought in Cash (Net buy 359.21 Crore)
• US market is trading positive.
• Global cues are flat to positive.
• SGX nifty is flat as of now.
• Most Active Nifty January Call Option: 5800 and 5900.
• Most Active Nifty December Put Options: 5800 and 5700.
• Advance Decline for the day was 1016:370

NIFTY TECHNICAL

Current Spot: 5863.25
Pivot: 5816
5DEMA: 5872
10DEMA: 5931
20DEMA: 5963
50DEMA: 5993
RSI (7 days): 39.02
Parabolic SAR: 6126
Supports: 5758 - 5653
Resistance: 5921 - 5979

Nifty Future VWAP: 5795.65
Bank Nifty Future VWAP: 10963.45
MP Values Spot (Price Profile): VAH - 5806, POC - 5744, VAL - 5714
MP Values Futures: VAH - 5872, POC - 5810, VAL - 5748
MP Values Bank Nifty Futures: VAH - 11070, POC - 10956, VAL - 10842

TARGET NIFTY
Buy Nifty Future above 5879 - 5933 - 5994 - 6096 SL - 5821
Sell Nifty Future below 5815 - 5765 - 5653 - 5592 SL - 5827
Buy BankNifty Future above 11162 - 11311 - 11474 - 11650 SL - 11015
Sell BankNifty Future below 11004 - 10864 - 10568 - 10435 SL - 11027

INTRADAY TRADE
Reliance Industries: Buy above 1033 for targets of 1036, 1041, 1053 SL 1021
Reliance Industries: Sell below 1018 for targets of 1016, 1012, 1001 SL 1026
Ster: Buy above 184 for targets of 186, 189 SL 180
IFCI: Buy above 61 for targets of 61.6, 63 SL 59.2

SCORE SHEET
PrajInd: Buy above 80.3 for targets of 81, 83 SL 79: Target 87.25 achieved
IndusIndBk: Buy above 233.5 for targets of 236, 239 SL 230: Target 244.65 achieved

POSITIONAL TRADE
Orchidchem: Buy above 294 for target of 316 SL 281 (One Week)
Suzlon: Buy above 54 for target of 58 SL 52 (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