Market outlook for 08/10/10

Nifty closed down 66.15 points (1.07%) at 6120.30 whilst Nifty October Future closed at 6146.85 premium of 26.55 points.
Bank Nifty closed down 92.60 points (0.73%) at 12536.60 whilst October Future closed at 12576.75 premium of 40.15 points.

• FII bought in Cash (Net buy 1182.91 Crore)
• FII sold in stock future and index future, bought in index option (Net sell 267.78 Crore)
• DII sold in Cash (Net sell 1193.53 Crore)
• US market is trading negative.
• Global cues are flat.
• SGX nifty is flat as of now.
• Most Active Nifty October Call Option: 6200 and 6300.
• Most Active Nifty October Put Options: 6100 and 6000.
• Advance Decline for the day was 442:921

NIFTY TECHNICAL

Current Spot: 6120.30
Pivot: 6142
5DEMA: 6130
10DEMA: 6082
20DEMA: 5972
50DEMA: 5748
RSI (7 days): 63.83
Parabolic SAR: 6003
Supports: 6085 - 6050
Resistance: 6177 - 6234

Nifty Future VWAP: 6184.07
Bank Nifty Future VWAP: 12615.20
MP Values Spot: VAH - 6197, POC - 6173, VAL - 6149
MP Values Futures: VAH - 6214 POC - 6204, VAL - 6166
MP Values Bank Nifty Futures: VAH - 12627, POC - 12571, VAL - 12565

TARGET NIFTY
Buy Nifty Future above 6175 - 6203 - 6263 - 6299 SL - 6167
Sell Nifty Future below 6138 - 6114 - 6077 - 6018 SL - 6173

INTRADAY TRADE
Reliance Industries: Buy above 1048 for targets of 1050, 1056, 1063 SL 1040
Reliance Industries: Sell below 1034 for targets of 1032, 1026, 1019 SL 1045
Biocon: Buy above 405 for targets of 411, 416 SL 396
Sreinfra: Buy above 107 for targets of 111, 116 SL 103

SCORE SHEET
Indiabulls: Buy above 168 for targets of 170, 174 SL 164: Target 180 achieved
Aptecht: Buy above 176 for targets of 179, 183 SL 173: Target 180.3 achieved

POSITIONAL TRADE
JPAssociat: Buy above 138 for target of 144 SL 135 (One Week)
3iInfotech: Buy above 63.4 for target of 68 SL 61 (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