Market outlook for 17/09/10

Nifty closed down 32.25 points (0.55%) at 5828.70 whilst Nifty September Future closed at 5841.90 premium of 13.2 points.
Bank Nifty closed up 44.45 points (0.37%) at 12032.05 whilst September Future closed at 12035.10 premium of 3.05 points.

• FII bought in Cash (Net buy 1120.03 Crore)
• FII sold in index future, stock future and index option (Net sell 2564.55 Crore)
• DII sold in Cash (Net sell 1105.25 Crore)
• US market is trading flat to negative.
• Global cues are flat to negative.
• SGX nifty is flat to negative 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 365:983

NIFTY TECHNICAL

Current Spot: 5828.70
Pivot: 5849
5DEMA: 5776
10DEMA: 5696
20DEMA: 5608
50DEMA: 5495
RSI (7 days): 81.38
Parabolic SAR: 5529
Supports: 5796 - 5763
Resistance: 5882 - 5935

Nifty VWAP: 5865
Bank Nifty VWAP: 12081
MP Values Spot: VAH - 5875, POC - 5852, VAL - 5829
MP Values Futures: VAH - 5872, POC - 5847, VAL - 5842
MP Values Bank Nifty Futures: VAH - 12139, POC - 12050, VAL - 12017

TARGET NIFTY
Buy Nifty above 5866 - 5894 - 5948 - 5984 SL - 5858
Sell Nifty below 5833 - 5810 - 5774 - 5720 SL - 5864

INTRADAY TRADE
Reliance Industries: Buy above 1009 for targets of 1011, 1017, 1025 SL 1002
Reliance Industries: Sell below 995 for targets of 993, 989, 978 SL 1007
AutoInd: Buy above 222 for targets of 228, 234 SL 216
NIITLtd: Buy above 72 for targets of 73, 75 SL 70.4

SCORE SHEET
Patni: Buy above 466 for targets of 471, 477 SL 456: SL Hit
IDFC: Buy above 200.5 for targets of 202, 205 SL 197: SL Hit

POSITIONAL TRADE
Everonn: Buy above 705 for target of 765 SL 681 (One Week)
DeltaCorp: Buy above 58 for target of 64 SL 56 (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