Intraday call performance 07/12/07

07/12/07

Nifty moved up as expected and crossed even 6027 to make a new high of 6042 and higher level selling again witnessed which broke the strong suport at 5920 and made a low of 5895 and again recovered to zoom past 5950.These higher level selling might continue for the time being

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

IFCI: This was a buy call with support for the target of 109 and it made 108 instead and on downside below 105, target given was 100 and it made 97.8

Four Soft: This was again a buy call with suport at 48 for target 52, but it opened at 52 and zoomed to 58.75...blasting call today

Following calls were given in yahoo messenger for clients:

Buy Inox at 159 stop 158 and inox zoomed to 162 and then hit stop loss

Short Sail at 278 stop 282 and stock came down to 264...very good profit

Buy RCOM at 733 stop 729 and zoomed to 740

Buy Ispat Indutries at 71 stop 70.5 and stop loss hit

Short IFCI at 103 stop 104.2 and stock fell to 97.8...very good profit

Market Outlook for 07/12/07

Market Outlook For 07/12/07

No one would have expected nifty to fall to that extent yesterday and nifty even tested strong support at 5920.Yesterday's top will be very important for nifty in next 2,3 day's atleast and if nifty doesn't cross this top created yestedray (6027) then there is danger for the market.For today, nifty will start moving upwards again and will face resistance around 6000 and then 6027 (strong resistance).If nifty crosses 6027, allround buying will emerge.But, in all probability nifty will face higher level selling near 6000 today.On downside, 5920 will still hold strong support and if breaks panic will be created and might take nifty towards 5860 level.

Stock watch for the day:

IFCI: This stock will move towards 109 again today with 105 as support and if 105 is taken out, then first panic will be created in this stock now.Break of 105 might take ifci to 103 (strong support) and then 100

Four Soft: For this stock, 48 is the good support and today if it holds on to 48 , it will move to 52 as first target.