Intraday call updates -12/11/07

As expected and given in "Market Outlook" for the day, nifty witnessed gap down opening and recovered later to close above 5600 and the interesting thing to be noted is, nifty is still below 5700 and it looks like just short covering and may be in a day or two nifty wil start its down movement again.In one or two day's picture will be clear again.

To Start with "Market Outlook"- "Market Watch Section"

I had given Sell call on SAIL below 150 and sail exactly made a low of 225 target as given
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Following calls given in yahoo messenger for clients:

SHORT I-FLEX at 1265-1270 stop-1280 and stock slided till 1260a nd then came up to hit the stop loss

BUY GMR INFRA AT 204..wity stop 198 and stock zoomed to 208

BUY RELIANCE ENERGY at only 1815 stop 1790 and stock just zoomed to 1818 and couldn't sustain there and came down till 1791 and then moved upto 1832

Short SAIL at 230-231 stop 234 and stock came down to 225

Buy Relaince Capital when crosses 1970 and stock zoomed to 2035

DLF at 858 now and if breaks 862, it will move to 875 and stock zoomed to to 880

Market outlook for 12th november

As expected, market broke 5700 and now in down trend and definitely looking towards 5500.For today,watch out for opening and if the opening is 100 points down and nifty near 5500, then you might see some buying for today as 5500 is the big support and if opening is not low, then there will be selling coming on every raise today.Watch out for crucial support at 5500 and break of that might take nifty towards 5200 level and below that 5000 is the major support and let us all keep our fingures crossed that corrections won't reach that point.

Stock watch for today:

SAIL: This stock is showing weekness and below 250, it will come down to 220-225 range.