Market outlook for 16/09/10

Nifty closed up 65.40 points (1.13%) at 5860.95 whilst Nifty September Future closed at 5861.50 premium of 0.55 points.
Bank Nifty closed up 59.25 points (0.50%) at 11987.60 whilst September Future closed at 11952.10 discount of 35.5 points.

• FII bought in Cash (Net buy 2214.99 Crore)
• FII sold in index option and stock future but bought in index future (Net sell 1772.77 Crore)
• DII sold in Cash (Net sell 909.96 Crore)
• US market is trading in Green.
• Global cues are flat to positive.
• SGX nifty is flat to positive as of now.
• Most Active Nifty September Call Option: 5800 and 5900.
• Most Active Nifty September Put Options: 5800 and 5700.
• Advance Decline for the day was 534:808

NIFTY TECHNICAL

Current Spot: 5860.95
Pivot: 5844
5DEMA: 5750
10DEMA: 5666
20DEMA: 5585
50DEMA: 5481
RSI (7 days): 90.83
Parabolic SAR: 5479
Supports: 5819 - 5778
Resistance: 5886 - 5911

Nifty VWAP: 5852
Bank Nifty VWAP: 11935
MP Values Spot: VAH - 5868, POC - 5858, VAL - 5841
MP Values Futures: VAH - 5865, POC - 5855, VAL - 5844
MP Values Bank Nifty Futures: VAH - 11960, POC - 11939, VAL - 11913

TARGET NIFTY
Buy Nifty above 5864 - 5883 - 5910 - 5947 SL - 5846
Sell Nifty below 5840 - 5825 - 5788 - 5761 SL - 5852

INTRADAY TRADE
Reliance Industries: Buy above 1016 for targets of 1023, 1034, 1048 SL 1005
Reliance Industries: Sell below 1002 for targets of 998, 990, 978 SL 1010
Patni: Buy above 466 for targets of 471, 477 SL 456
IDFC: Buy above 200.5 for targets of 202, 205 SL 197

SCORE SHEET
JPAssociat: Buy above 126.8 for targets of 127.8, 129 SL 124.8: Target 127.7 achieved
Ster: Buy above 172 for targets of 174, 177 SL 170: Target 175.65 achieved

POSITIONAL TRADE
CentralBk: Buy above 201 for target of 209 SL 198 (One Week)
BergePaint: Buy above 115 for target of 127 SL 109 (Two Weeks)

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