Market outlook for 26/10/10

Nifty closed up 39.75 points (0.66%) at 6105.80 whilst Nifty October Future closed at 6136.20 premium of 30.40 points.
Bank Nifty closed up 39.90 points (0.32%) at 12424.70 whilst October Future closed at 12492.45 premium of 67.75 points.

• FII bought in Cash (Net buy 587.20 Crore)
• FII bought in index future, index option but sold in stock future (Net buy 743.78 Crore)
• DII sold in Cash (Net sell 386.11 Crore)
• US market is trading positive.
• Global cues are flat to positive.
• SGX nifty is flat 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 831:531

NIFTY TECHNICAL

Current Spot: 6105.80
Pivot: 6117
5DEMA: 6080
10DEMA: 6082
20DEMA: 6053
50DEMA: 5889
RSI (7 days): 53.96
Parabolic SAR: 6206
Supports: 6083 - 6061
Resistance: 6140 - 6174

Nifty Future VWAP: 6147.35
Bank Nifty Future VWAP: 12541.73
MP Values Spot: VAH - 6141, POC - 6123, VAL - 6105
MP Values Futures: VAH - 6158, POC - 6136, VAL - 6127
MP Values Bank Nifty Futures: VAH - 12600, POC - 12572, VAL - 12518

TARGET NIFTY
Buy Nifty Future above 6147 - 6171 - 6208 - 6240 SL - 6139
Sell Nifty Future below 6127 - 6108 - 6076 - 6039 SL - 6145

INTRADAY TRADE
Reliance Industries: Buy above 1098 for targets of 1100, 1106, 1113 SL 1090
Reliance Industries: Sell below 1085 for targets of 1083, 1079, 1070 SL 1095
Gitanjali: Buy above 290 for targets of 294,301 SL 281
Centralbk: Buy above 240 for targets of 244, 249 SL 236

SCORE SHEET
Raymond: Buy above 405 for targets of 410,418 SL 397: Target 423.30 achieved
Indiabulls: Buy above 213 for targets of 216, 222 SL 206: Target 221.80 achieved
Kohinoor: Buy above 70 for targets of 72, 75 SL 68.5: Target 73.45 achieved

POSITIONAL TRADE
ICSA: Buy above 130.6 for target of 137 SL 126 (One Week)
Abgship: Buy above 406 for target of 440 SL 392 (One Month)

 

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