Thursday, November 29, 2007

Intraday call performance 2911/07

29/11/07

Although nifty opened high and also crossed 5700, it couldn't sustain above that and finally gave up all gains and came down to make a low of 5612 and the only satisfaction in today's nifty movements is yesterday's low is not taken off.Now that expiry is over, clear market movements might start probably from monday or tuesday onwards.

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

OMAXE: This stock was given a clear buy for target of 425-435 range and this stock made a high of 428

IFCI: Although this stock crossed 91 resistance, it made just 92.35 as upward target was given as 94 and below 91, it hit downward target of 86 as expected and given here.

Following calls given in yahoo messenger for clients:

Buy JP HYDRO AT 107 STOP 106.....KEEP STOP LOSS INTACT AND JP ZOOMED TO 109.5

Buy GESHIPPING AT 484 STOP 482 AND GE ZOOMED TO 491

Short IDEA at 122.2 stop 123.2...small risk....last call of the day and stock came down to 116

Market outlook for 29th November

29/11/07

Nifty has broken the strong support at 5630 and closed at 5617 is a worrying factor and trend shows downside now and it still remains to be seen whether it is just an expiry effect or not..! monday onwards nifty might show some direction to the market.For today, market will be volatile and remains to be seen whether nifty can get past strong resistance of 5660 in today's volatility and if gets past that then again some buying will emerge or else, selling will come at every raise.Downside, 5560 and then 5500 are the support area.

Stock watch for the day:

OMAXE LTD (411) : This stock looks hot and above 415 will shoot upto 425-435 range and below 415, strong support at 400.Lower opening, buy this stock with stop loss 400

IFCI (88) : This stock will face strong hurdle at 91 today and above that will shoot up to 94-96 and below 91, target is 86-84.

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