Market outlook for 22/10/10

Nifty closed up 119.40 points (2.00%) at 6101.50 whilst Nifty October Future closed at 6135.15 premium of 33.65 points.
Bank Nifty closed up 259.30 points (2.13%) at 12435.80 whilst October Future closed at 12506.35 premium of 70.55 points.

• FII bought in Cash (Net buy 851.80 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 1698.22 Crore)
• DII sold in Cash (Net sell 230.39 Crore)
• US market is trading positive.
• Global cues are flat.
• SGX nifty is flat to positive as of now.
• Most Active Nifty October Call Option: 6100 and 6200.
• Most Active Nifty October Put Options: 6100 and 6000.
• Advance Decline for the day was 971:383

NIFTY TECHNICAL

Current Spot: 6101.50
Pivot: 6067
5DEMA: 6067
10DEMA: 6080
20DEMA: 6046
50DEMA: 5871
RSI (7 days): 53.38
Parabolic SAR: 6237
Supports: 6020 - 5938
Resistance: 6148 - 6195

Nifty Future VWAP: 6094.32
Bank Nifty Future VWAP: 12398.06
MP Values Spot: VAH - 6080, POC - 6025, VAL - 5983
MP Values Futures: VAH - 6138 POC - 6127, VAL - 6080
MP Values Bank Nifty Futures: VAH - 12440, POC - 12310, VAL - 12291

TARGET NIFTY
Buy Nifty Future above 6140 - 6187 - 6241 - 6334 SL - 6094
Sell Nifty Future below 6088 - 6046 - 5954 - 5899 SL - 6100

INTRADAY TRADE
Reliance Industries: Buy above 1084 for targets of 1087, 1094, 1104 SL 1070
Reliance Industries: Sell below 1067 for targets of 1063, 1052, 1037 SL 1076
BhartiArtl: Buy above 338 for targets of 340,343 SL 334.5
Uniphos: Buy above 206 for targets of 209, 214 SL 200

SCORE SHEET
CentralBk: Buy above 211 for targets of 213, 216 SL 207: Target 225.65 achieved
IDBI: Buy above 167 for targets of 169, 172 SL 163: Target 171.5 achieved

POSITIONAL TRADE
Pipavavyd: Buy above 84 for target of 97 SL 77 (One Month)
Ajmera: Buy above 272 for target of 295 SL 260 (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