Market outlook for 24/06/10

Nifty rose 6.60 points (+0.12%) to 5323.15 whilst Nifty June Future closed at 5333.60 premium of 10.45 points.

• FII bought in Cash (Net buy 265.33 Crore)
• FII bought in index options and index futures but sold in stock futures (Net buy 956.14 Crore)
• DII sold in Cash (Net sell 866.22 Crore)
• US market ended just flat to negative.
• Global cues are flat.
• SGX nifty is flat to negative 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 843:452

NIFTY Technical

Current Spot: 5323.15
Pivot: 5315
3DEMA: 5316
7DEMA: 5276
20DEMA: 5180
50DEMA: 5156
RSI (7 days): 70.73
Parabolic SAR: 5250
Supports: 5296 - 5270
Resistance: 5341 - 5360

MP Values Spot: VAH - 5323, POC - 5316, VAL - 5300
MP Values Futures: VAH - 5329, POC - 5307, VAL - 5300

Target Nifty
Buy Nifty above 5338 - 5350 - 5370 - 5398 SL - 5322
Sell Nifty below 5317 - 5308 - 5279 - 5260 SL - 5327

Stock Ideas for the Day
Reliance Industries: Buy above 1065 for targets of 1067, 1071, 1077 SL of 1057
Reliance Industries: Sell below 1053 for targets of 1051, 1048, 1042 SL of 1063
Bajaj Finserv: Buy above 417 for target of 422, 430 SL 408
Max India: Buy above 163 for target of 166, 170 SL 159

Positional Call
Noida Toll Bridge: Buy above 29.6 for target of 31.5 SL 28.8 (One Week)
Deep Industries: Buy above 101 for target of 111 SL 98 (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 09831497250 or mail us @ S&P Wealth Creators with your Name and Mobile No. for subscription offer of intraday calls during Market hours.