Market outlook for 11/11/10

Nifty closed down 25.85 points (0.41%) at 6275.70 whilst Nifty November Future closed at 6308.30 premium of 32.60 points.
Bank Nifty closed down 114.25 points (0.87%) at 13121.35 whilst November Future closed at 13084.60 premium of 77.50 points.

• FII sold in Cash (Net sell 32.52 Crore)
• FII sold in index future, index option and stock future (Net sell 1470.20 Crore)
• DII sold in Cash (Net sell 143.71 Crore)
• US market is trading in RED.
• Global cues are Negative.
• SGX nifty is negative as of now.
• Most Active Nifty November Call Option: 6300 and 6400.
• Most Active Nifty November Put Options: 6300 and 6200.
• Advance Decline for the day was 796:574

NIFTY TECHNICAL

Current Spot: 6275.70
Pivot: 6284
5DEMA: 6263
10DEMA: 6214
20DEMA: 6154
50DEMA: 6001
RSI (7 days): 65.36
Parabolic SAR: 6058
Supports: 6261 - 6246
Resistance: 6299 - 6323

Nifty Future VWAP: 6311.98
Bank Nifty Future VWAP: 13104.04
MP Values Spot: VAH - 6302, POC - 6292, VAL - 6282
MP Values Futures: VAH - 6318, POC - 6310, VAL - 6306
MP Values Bank Nifty Futures: VAH - 13122, POC - 13090, VAL - 13080

TARGET NIFTY
Buy Nifty Future above 6316 - 6325 - 6346 - 6362 SL - 6309
Sell Nifty Future below 6299 - 6294 - 6278 - 6258 SL - 6315

INTRADAY TRADE
Reliance Industries: Buy above 1112 for targets of 1115, 1121, 1128 SL 1103
Reliance Industries: Sell below 1097 for targets of 1095, 1090, 1080 SL 1109
GEShip: Buy above 393 for targets of 397, 405 SL 384
Spic: Buy above 34.5 for targets of 35.5, 37 SL 33

SCORE SHEET
Nehaint: Buy above 228 for targets of 233, 239 SL 219: Target 249.1 achieved
Assamco: Buy above 28 for targets of 28.8, 30 SL 26.8: Target 29.2 achieved

POSITIONAL TRADE
Sical: Buy above 88 for target of 99 SL 86 (One Week)
Ansalapi: Buy above 84.8 for target of 91 SL 81.8 (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