Market outlook for 10/06/10

Nifty rose 13.20 points (+0.26%) to 5000.30 whilst Nifty June Future closed at 4990.40 discount of 9.90 points.

• FII sold in Cash (Net sell 256.51 Crore)
• FII bought in index options, index futures and stock futures (Net buy 1838.52 Crore)
• DII bought in Cash (Net buy 127.56 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 700:579

NIFTY Technical

Current Spot: 5000.30
Pivot: 5010
3DEMA: 5014
7DEMA: 5026
20DEMA: 5042
100DEMA: 5124
RSI (7 days): 45.90
Parabolic SAR: 4952
Supports: 4970 - 4940
Resistance: 5041 - 5081

MP Values Spot: VAH - 5020, POC - 5006, VAL - 4986
MP Values Futures: VAH - 5015, POC - 4993, VAL - 4969

Target Nifty
Buy Nifty above 5003 - 5042 - 5096 - 5142 SL - 4996
Sell Nifty below 4983 - 4947 - 4901 - 4847 SL - 5001

Stock Ideas for the Day
Reliance Industries: Buy above 1012 for targets of 1015, 1020, 1027 SL of 1005
Reliance Industries: Sell below 1002 for targets of 1000, 995, 987 SL of 1010
Sterlite Ind: Buy above 622 for target of 628, 633 SL 615
ICICI Bank: Buy above 820 for target of 828, 837 SL 811

Positional Call
REC: Buy above 288 for target of 311 SL 281 (One Month)
Tata Metaliks: Buy above 125 for target of 133 SL 122 (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.