Market outlook for 23/06/10

Nifty fell 36.75 points (-0.69%) to 5316.55 whilst Nifty June Future closed at 5320.30 premium of 3.75 points.

• FII bought in Cash (Net buy 975.83 Crore)
• FII bought in index options but sold in index futures and stock futures (Net buy 598.93 Crore)
• DII sold in Cash (Net sell 196.99 Crore)
• US market ended just Flat.
• Global cues are flat to Positive.
• SGX nifty is flat to positive as of now.
• Most Active Nifty June Call Option: 5300 and 5400.
• Most Active Nifty June Put Options: 5300 and 5200.
• Advance Decline for the day was 521:783

NIFTY Technical

Current Spot: 5316.55
Pivot: 5326
3DEMA: 5310
7DEMA: 5260
20DEMA: 5165
50DEMA: 5147
RSI (7 days): 70.06
Parabolic SAR: 5221
Supports: 5302 - 5287
Resistance: 5341 - 5365

MP Values Spot: VAH - 5343, POC - 5326, VAL - 5322
MP Values Futures: VAH - 5348, POC - 5334, VAL - 5327

Target Nifty
Buy Nifty above 5334 - 5346 - 5375 - 5394 SL - 5328
Sell Nifty below 5312 - 5304 - 5285 - 5256 SL - 5333

Stock Ideas for the Day
Reliance Industries: Buy above 1071 for targets of 1073, 1080, 1089 SL of 1063
Reliance Industries: Sell below 1058 for targets of 1056, 1050, 1040 SL of 1068
Banco Products: Buy above 111 for target of 113, 116 SL 109
Opto Circuit: Buy above 237 for target of 240, 243 SL 234.5

Positional Call
Reliance Infra: Buy above 1170 for target of 1280 SL 1140 (One Month)
Super Spinning Mills: Buy above 13.9 for target of 15.5 SL 13.55 (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.