Today's Intraday call updates

08/11/07

As expected and told in my "Market Outlook" section, market opened low today and most worrying factor was ending below 5700 and it seems nifty is heading towards 5500 now although there might be some upside in dewali muhurat trading.Although it was a great trading day for all my clients.

To Start with "Market Outlook"- "Market Watch Section" The stock given in my stock watch section ongc clearly broke the told support and came down heavily towards 1220

Following calls given in yahoo messenger for clients:

Buy Reliance Energy at 1826 stop 1810 and stock zoomed to 1887

Short Bank of India at 371 stop 373.5 and stock made a low of 355

Short RPL at 221 stop 224 and stock fell to 211

Market Outlook for 8th November

08/11/07

Today Low Opening Expected

As expected, nifty didn't break 5700 strong support even though nifty is around 5700 for almost 3,4 day's now.It seems like nifty is consolidating around 5700-5800 for major break through above 6000 or might be getting ready for breaking 5700 and move towards 5500 in coming day's.. Anyways, opening will be interesting.On downside, 5700 still holds strong support .On upper side, 5865 will act as major resistance for nifty today and any move above that will take nifty towards 5900 odd and also interestingly many over heated stocks like RPL, Reliance Capital are corrected a lot and if the market moves above 5900, these stocks might blast.

Stocks to Watch for today:

Ongc: (1293) This major stock is near its big support of 1280 and if holds this support, will move towards target of 1330-1350 and incase if support is taken off then we might see 1250-1260 on downside.