Market outlook for 04/06/10

Nifty rose 90.65 points (+1.81%) to 5110.50 whilst Nifty June Future closed at 5095.95 discount of 14.55 points.

• FII bought in Cash (Net buy 406.22 Crore)
• FII bought in index futures and stock futures but sold small in index options and stock options (Net buy 2149.82 Crore)
• DII bought in Cash (Net buy 79.01 Crore)
• US market was flat to Positive.
• Global cues are flat to Positive.
• SGX nifty is Negative as of now.
• Most Active Nifty June Call Option: 5100 and 5200.
• Most Active Nifty June Put Options: 5000 and 4900.
• Advance Decline for the day was 976:320

NIFTY Technical

Current Spot: 5110.50
Pivot: 5104
3DEMA: 5062
7DEMA: 5031
20DEMA: 5046
100DEMA: 5127
RSI (7 days): 59.97
Parabolic SAR: 4856
Supports: 5082 - 5053
Resistance: 5132 - 5154

MP Values Spot: VAH - 5120, POC - 5109, VAL - 5104
MP Values Futures: VAH - 5102, POC - 5089, VAL - 5083

Target Nifty
Buy Nifty above 5100 - 5113 - 5133 - 5161 SL - 5086
Sell Nifty below 5081 - 5071 - 5044 - 5024 SL - 5091
Swing Trade
Stock Ideas for the Day
Reliance Industries: Buy above 1033 for targets of 1037, 1045, 1055 SL of 1027
Reliance Industries: Sell below 1024 for targets of 1020, 1014, 1006 SL of 1032
Gulf Oil: Buy above 99 for target of 101, 105 SL 96.7
Andhra Bank: Buy above 140 for target of 143, 147 SL 136.5

Positional Call
Havells: Buy above 642 for target of 690 SL 619 (Two Weeks)
India Cement: Buy above 110.5 for target of 115 SL 108 (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

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