Market outlook for 03/06/10

Nifty rose 49.65 points (+1.00%) to 5019.85 whilst Nifty June Future closed at 5004.35 discount of 5.85 points.

• FII sold in Cash (Net sell 166.50 Crore)
• FII bought in index options and stock futures but sold in index futures (Net buy 1233.20 Crore)
• DII bought in Cash (Net buy 165.16 Crore)
• US market was Positive.
• Global cues are flat to Positive.
• SGX nifty is Positive as of now.
• Most Active Nifty June Call Option: 5000 and 5100.
• Most Active Nifty May Put Options: 4800 and 4900.
• Advance Decline for the day was 834:440

NIFTY Technical

Current Spot: 5019.85
Pivot: 5006
3DEMA: 5014
7DEMA: 5004
20DEMA: 5040
100DEMA: 5107
RSI (7 days): 50.82
Parabolic SAR: 4839
Supports: 4982 - 4943
Resistance: 5045 - 5069

MP Values Spot: VAH - 5002, POC - 4989, VAL - 4979
MP Values Futures: VAH - 4977, POC - 4962, VAL - 4953

Target Nifty
Buy Nifty above 5008 - 5033 - 5065 - 5112 SL - 4986
Sell Nifty below 4981 - 4960 - 4912 - 4881 SL - 4991

Stock Ideas for the Day
Reliance Industries: Buy above 1017 for targets of 1020, 1027, 1035 SL of 1009
Reliance Industries: Sell below 1006 for targets of 1003, 997, 987 SL of 1014
HDIL: Buy above 228 for target of 231, 235 SL 225
Vijaya Bank: Buy above 61 for target of 61.5, 62.5 SL 59.9

Positional Call
RCom: Buy above 156 for target of 180 SL 149 (One Month)
Selan: Buy above 410 for target of 455 SL 390 (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

Call 09831497250 or mail us @ S&P Wealth Creators with your Name and Mobile No. for subscription offer of intraday calls during Market hours.