Intraday call performance 12/12/07

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

Nifty reacted to world markets which were down and as said went negative below 6110.It was clearly mentioned that if nifty remains below 6110, nifty will face selling and remain week throughout the day.

Stock watch for the day:

Glaxo: This stock was given a buy above 1015 for target 1065 and the stock made a high of 1069

Following calls were given in yahoo messenger for clients:

Short Air Deccan at 263 with stop 264.5 and stock made 261.5 and when it came up again to 262.5, told to come out with no profit no loss

Buy ICICI Bank at 1300 stop 1290 and stock made 1308 then hit the stop loss

Buy RCom at 746 stop 739 and stock made 775

Short IDFC at around 225.5 with stop 227..small stop loss and the stock came down to 221.4

Market outlook for 12/12/07

12/12/07

FED rate cut of 25 BPS is a positive news for the market now and there might be a gap up opening also.If nifty crosses 6100, then the near term target for nifty is around 6400 and 6100-6000 will act as a strong support for coming day's.For today, nifty will have strong support at 6040.On upper side, if nifty crosses 6110, in all probability 6150 will be tested and if nifty remains below 6110, there will be selling today.Even if there is higher opening, there will be selling at higher levels.So, watch out for levels 6110-6150 on upper side and 6040 on lower side.

Stock watch for the day:

Glaxo Industries (1025): Buy this stock only if 1015 is held for targets 1050 -1065 today.