Market outlook for 08/06/10

Nifty fell 101.50 points (-1.98%) to 5034 whilst Nifty June Future closed at 5020.20 discount of 13.80 points.

• FII sold in Cash (Net sell 403.45 Crore)
• FII sold in index futures and stock futures but bought in index options (Net sell 51.24 Crore)
• DII sold in Cash (Net sell 202.51 Crore)
• US market ended in RED.
• Global cues are flat to Negative.
• SGX nifty is Negative as of now.
• Most Active Nifty June Call Option: 5100 and 5000.
• Most Active Nifty June Put Options: 5000 and 4900.
• Advance Decline for the day was 251:1059

NIFTY Technical

Current Spot: 5034.00
Pivot: 5028
3DEMA: 5066
7DEMA: 5051
20DEMA: 5053
100DEMA: 5135
RSI (7 days): 49.1
Parabolic SAR: 4906
Supports: 5010 - 4987
Resistance: 5051 - 5069

MP Values Spot: VAH - 5035, POC - 5026, VAL - 5014
MP Values Futures: VAH - 5018, POC - 5004, VAL - 4993

Target Nifty
Buy Nifty above 5024 - 5037 - 5057 - 5084 SL - 5010
Sell Nifty below 5005 - 4995 - 4968 - 4949 SL - 5015

Stock Ideas for the Day
Reliance Industries: Buy above 1010 for targets of 1013, 1020, 1028 SL of 1005
Reliance Industries: Sell below 1003 for targets of 1001, 995, 988 SL of 1010
Polaris Software: Buy above 178 for target of 181, 186 SL 175
Sasken Communications: Buy above 192 for target of 195, 200 SL 188

Positional Call
Shiv Vani Oil: Buy above 416 for target of 448 SL 404 (One Month)
Lakshmi Vilas Bank: Buy above 87 for target of 93 SL 85 (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.