Market outlook for 11/06/10

Nifty rose 78.30 points (+1.57%) to 5078.60 whilst Nifty June Future closed at 5086.10 premium of 7.5 points.

• FII bought in Cash (Net buy 244.76 Crore)
• FII bought in index futures and stock futures but sold in index options (Net buy 440.98 Crore)
• DII sold in Cash (Net sell 105.19 Crore)
• US market ended in GREEN.
• Global cues are 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 955:328

NIFTY Technical

Current Spot: 5078.60
Pivot: 5057
3DEMA: 5046
7DEMA: 5039
20DEMA: 5046
100DEMA: 5127
RSI (7 days): 55.82
Parabolic SAR: 4972
Supports: 5028 - 4977
Resistance: 5107 - 5136

MP Values Spot: VAH - 5050, POC - 5033, VAL - 5014
MP Values Futures: VAH - 5047, POC - 5027, VAL - 5006

Target Nifty
Buy Nifty above 5090 - 5116 - 5147 - 5204 SL - 5059
Sell Nifty below 5054 - 5032 - 4976 - 4944 SL - 5064

Stock Ideas for the Day
Reliance Industries: Buy above 1018 for targets of 1020, 1023, 1027 SL of 1011
Reliance Industries: Sell below 1008 for targets of 1006, 1003, 1000 SL of 1016
Hindalco: Buy above 139 for target of 140.5, 143 SL 137
Electrosteel Casting: Buy above 49.5 for target of 50.5, 52 SL 48

Positional Call
Insecticides India: Buy above 185.5 for target of 204 SL 177 (One Month)
Pipavav Shipyard: Buy above 93 for target of 98 SL 91 (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.