Market outlook for 16/06/10

Nifty rose 24.65 points (+0.47%) to 5222.35 whilst Nifty June Future closed at 5234.30 premium of 11.95 points.

• FII bought in Cash (Net buy 590.09 Crore)
• FII bought in index futures but sold in stock futures and index options (Net buy 14.8 Crore)
• DII sold in Cash (Net sell 351.46 Crore)
• US market ended in Green.
• Global cues are Positive.
• SGX nifty is Flat as of now.
• Most Active Nifty June Call Option: 5200 and 5300.
• Most Active Nifty June Put Options: 5100 and 5200.
• Advance Decline for the day was 792:505

NIFTY Technical

Current Spot: 5222.35
Pivot: 5208
3DEMA: 5181
7DEMA: 5126
20DEMA: 5081
100DEMA: 5133
RSI (7 days): 69.59
Parabolic SAR: 5037
Supports: 5185 - 5148
Resistance: 5246 - 5269

MP Values Spot: VAH - 5215, POC - 5195, VAL - 5186
MP Values Futures: VAH - 5218, POC – 5197, VAL - 5177

Target Nifty
Buy Nifty above 5238 - 5259 - 5287 - 5332 SL - 5215
Sell Nifty below 5210 - 5192 - 5148 - 5120 SL - 5220

Stock Ideas for the Day
Reliance Industries: Buy above 1069 for targets of 1072, 1079, 1091 SL of 1059
Reliance Industries: Sell below 1057 for targets of 1054, 1045, 1037 SL of 1065
Lanco Infra: Buy above 66.5 for target of 67, 68 SL 65.3
ITC: Sell below 289.8 for target of 286.9, 282.2 SL 294.5

Positional Call
RNRL: Buy above 67.5 for target of 73 SL 65.1 (One Week)
Hind Copper: Buy above 516 for target of 570 SL 506 (One Month)

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 09831103484 or mail us @ S&P Wealth Creators with your Name and Mobile No. for subscription offer of intraday calls during Market hours.