Market outlook for 18/06/10

Nifty rose 41.50 points (+0.79%) to 5274.85 whilst Nifty June Future closed at 5284.80 premium of 9.95 points.

• FII bought in Cash (Net buy 462.60 Crore)
• FII bought in index futures, stock futures and index options (Net buy 587.72 Crore)
• DII sold in Cash (Net sell 363.63 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 695:598

NIFTY Technical

Current Spot: 5274.85
Pivot: 5256
3DEMA: 5241
7DEMA: 5183
20DEMA: 5113
100DEMA: 5166
RSI (7 days): 74.18
Parabolic SAR: 5102
Supports: 5226 - 5177
Resistance: 5305 - 5335

MP Values Spot: VAH - 5255, POC - 5231, VAL - 5218
MP Values Futures: VAH - 5258, POC – 5226, VAL - 5212

Target Nifty
Buy Nifty above 5289 - 5317 - 5351 - 5408 SL - 5260
Sell Nifty below 5255 - 5231 - 5174 - 5140 SL - 5265

Stock Ideas for the Day
Reliance Industries: Buy above 1074 for targets of 1077, 1085, 1096 SL of 1066
Reliance Industries: Sell below 1064 for targets of 1062, 1053, 1045 SL of 1072
Bank of Rajasthan: Buy above 175 for target of 177, 180 SL 171
LT: Buy above 1783 for target of 1800, 1825 SL 1752

Positional Call
GujNreCoke: Buy above 63 for target of 66 SL 61.5 (One Week)
IOB: Buy above 102.1 for target of 110 SL 100 (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.