Market outlook for 22/06/10

Nifty rose 90.70 points (+1.72%) to 5353.30 whilst Nifty June Future closed at 5357.65 premium of 4.35 points.

• FII bought in Cash (Net buy 1564.30 Crore)
• FII bought in index futures & index options but sold in stock futures (Net buy 1320.67 Crore)
• DII sold in Cash (Net sell 561.44 Crore)
• US market ended flat to Negative.
• Global cues are Negative.
• SGX nifty is flat as of now.
• Most Active Nifty June Call Option: 5400 and 5300.
• Most Active Nifty June Put Options: 5300 and 5200.
• Advance Decline for the day was 949:349

NIFTY Technical

Current Spot: 5353.30
Pivot: 5347
3DEMA: 5303
7DEMA: 5241
20DEMA: 5149
100DEMA: 5164
RSI (7 days): 78.65
Parabolic SAR: 5184
Supports: 5327 - 5300
Resistance: 5373 - 5393

MP Values Spot: VAH - 5367, POC - 5358, VAL - 5325
MP Values Futures: VAH - 5375, POC - 5364, VAL - 5353

Target Nifty
Buy Nifty above 5362 - 5382 - 5409 - 5443 SL - 5348
Sell Nifty below 5342 - 5326 - 5292 - 5265 SL - 5353

Stock Ideas for the Day
Reliance Industries: Buy above 1071 for targets of 1072, 1075, 1079 SL of 1063
Reliance Industries: Sell below 1060 for targets of 1059, 1057, 1052 SL of 1069
TCS: Buy above 785 for target of 794, 815 SL 770
United Phosphorus: Buy above 193 for target of 197, 202 SL 189

Positional Call
Solar Ind: Buy above 416 for target of 445 SL 404 (One Month)
Deepak Fertilizers: Buy above 128 for target of 135 SL 125 (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.