Market today..

06/11/07

It was an very intertesting day today and the way reliance pack have started unloading their points, it was horrifying and everybody started thinking of corrections and nifty infact is still above 5700, the only silver line today and if 5700 is maintained , still upside is possible.But, if 5700 is taken of then move towards 5500 is almost certain.Tomorrow it wil be interesting to see whether nifty breaks 5700 or not and even even more interesting to watch stocks like rpl, rnrl etc as they have already fallen too much in a single day and near to their supports as well.

In the Stock Watch Section, Punjab National Bank zoomed to 572 just short of 580 target given by me and Reliance Indutries zoomed to 2755 and i was expecting minimum 50 points from 2735 and that was around 2785 and so fell short of 30 points.

Intraday call updates

06/11/07

Buy Bharti Tele around 955 stop 949 and stock zoomed to 959 and then hit stop loss

Short SBI around 2255 stop 2266 and stock slipped to 2250 and then hit stop loss

Buy Reliance Indutries at 1741 stop 1720..only when it reaches 1741 and zomed to 1755

Buy RPL at 240 stop 236 target 255 as first target and stock zoomed to 243 and told to come out in small profit

Market outlook for today

06/11/07

Nothing much has changed and nifty is still in the firm grip of bulls and looks like consolidating a bit before start moving up again.On the upper side, 5952 still remians the major resistance for now and if crosses 5952, then immediate target would be 6010.Unless nifty breaks 5700, there's nothing to worry and in any time if nifty breaks 5700, then we might even see another 200 points down from there on.Banking and power stocks will show strength in this week.

Stocks to watch for today:

Punjab National Bank-As long as this remains above 550, it will move towards 580 mark

Reliance Industries-This stock is moving between 2625-2735 range and break of this will give minimum 50-70 points on both sides