Market outlook for 17/06/10

Nifty rose 11 points (+0.21%) to 5233.35 whilst Nifty June Future closed at 5226.45 discount of 6.90 points.

• FII bought in Cash (Net buy 783.92 Crore)
• FII bought in index futures, stock futures and index options (Net buy 1744.04 Crore)
• DII sold in Cash (Net sell 170.76 Crore)
• US market ended Flat.
• 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 669:617

NIFTY Technical

Current Spot: 5233.35
Pivot: 5235
3DEMA: 5207
7DEMA: 5153
20DEMA: 5096
100DEMA: 5155
RSI (7 days): 70.56
Parabolic SAR: 5066
Supports: 5214 - 5194
Resistance: 5254 - 5275

MP Values Spot: VAH - 5244, POC - 5234, VAL - 5228
MP Values Futures: VAH - 5241, POC – 5232, VAL - 5224

Target Nifty
Buy Nifty above 5233 - 5244 - 5265 - 5383 SL - 5226
Sell Nifty below 5219 - 5211 - 5193 - 5173 SL - 5232

Stock Ideas for the Day
Reliance Industries: Buy above 1067 for targets of 1070, 1077, 1084 SL of 1059
Reliance Industries: Sell below 1053 for targets of 1051, 1045, 1036 SL of 1065
Stride Arcolab: Buy above 387 for target of 394, 405 SL 379
Wockhardt: Buy above 138 for target of 140, 144 SL 135

Positional Call
HCC: Buy above 116 for target of 122 SL 113 (One Week)
Reliance Industrial Infra: Buy above 997 for target of 1100 SL 967 (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.