Market outlook for 23/09/10

Nifty closed down 18.05 points (0.30%) at 5991.00 whilst Nifty September Future closed at 6002.15 premium of 11.15 points.
Bank Nifty closed up 60.75 points (0.50%) at 12305.70 whilst September Future closed at 12311.70 premium of 6.00 points.

• FII bought in Cash (Net buy 914.77 Crore)
• FII sold big in index future, index option and stock future (Net sell 3933.42 Crore)
• DII sold in Cash (Net sell 973.81 Crore)
• US market is trading flat to negative.
• Global cues are flat to negative.
• SGX nifty is flat as of now.
• Most Active Nifty September Call Option: 6000 and 6100.
• Most Active Nifty September Put Options: 6000 and 5900.
• Advance Decline for the day was 432:917

NIFTY TECHNICAL

Current Spot: 5991.00
Pivot: 5992
5DEMA: 5941
10DEMA: 5849
20DEMA: 5728
50DEMA: 5571
RSI (7 days): 84.40
Parabolic SAR: 5762
Supports: 5946 - 5901
Resistance: 6037 - 6083

Nifty Future VWAP: 5996
Bank Nifty Future VWAP: 12250
MP Values Spot: VAH - 6017, POC - 5989, VAL - 5961
MP Values Futures: VAH - 6026, POC - 6000, VAL - 5980
MP Values Bank Nifty Futures: VAH - 12257, POC - 12210, VAL - 12196

TARGET NIFTY
Buy Nifty above 6007 - 6046 - 6093 - 6141 SL - 5998
Sell Nifty below 5992 - 5957 - 5909 - 5862 SL - 6004

INTRADAY TRADE
Reliance Industries: Buy above 1031 for targets of 1035, 1052, 1064 SL 1024
Reliance Industries: Sell below 1015 for targets of 1011, 1000, 984 SL 1029
Satyamcomp: Buy above 108 for targets of 111, 115 SL 104
Lumaxtech: Buy above 187 for targets of 191, 196 SL 183

SCORE SHEET
Aegischem: Buy above 345 for targets of 348, 353 SL 339: Target 357.50 achieved
Omaxe: Buy above 142 for targets of 143.5, 146 SL 139.5: Target 143.65 achieved

POSITIONAL TRADE
Gitanjali: Buy above 236 for target of 249 SL 228 (One Week)
PunjLloyd: Buy above 127 for target of 136 SL 124 (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