Market outlook for 09/06/10

Nifty fell 46.90 points (-0.93%) to 4987.10 whilst Nifty June Future closed at 4960.70 discount of 26.40 points.

• FII sold in Cash (Net sell 242.91 Crore)
• FII bought in index options but sold in index futures and stock futures (Net buy 168.98 Crore)
• DII bought in Cash (Net buy 41.09 Crore)
• US market ended flat to Positive.
• Global cues are flat to Positive.
• SGX nifty is Positive 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 423:877

NIFTY Technical

Current Spot: 4987.10
Pivot: 5009
3DEMA: 5027
7DEMA: 5035
20DEMA: 5047
100DEMA: 5133
RSI (7 days): 44.08
Parabolic SAR: 4930
Supports: 4946 - 4905
Resistance: 5050 - 5113

MP Values Spot: VAH - 5070, POC - 5058, VAL - 5021
MP Values Futures: VAH - 5054, POC - 5038, VAL - 4995

Target Nifty
Buy Nifty above 4988 - 5028 - 5099 - 5145 SL - 4982
Sell Nifty below 4953 - 4917 - 4870 - 4800 SL - 4987
Swing Trade
Stock Ideas for the Day
Reliance Industries: Buy above 1006 for targets of 1009, 1017, 1023 SL of 999
Reliance Industries: Sell below 993 for targets of 991, 986, 975 SL of 1004
HDIL: Buy above 222 for target of 228, 233 SL 218
Tata Metaliks: Buy above 128 for target of 132, 137 SL 125.6

Positional Call
KFA: Buy above 45.2 for target of 48 SL 44 (One Week)
Union Bank of India: Buy above 306 for target of 320 SL 300 (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.