Tuesday, December 18, 2007

Intraday call performance 18/12/07

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

Market remained week throughout the day and nifty ended the day week again closing below yestedray's close and volatility continued from yesterday and might go on for some more days now as expiry and year ending effect will be there in the market.

Stock watch for the day:

Marico: This was a clear buy call with stop loss 67 for taregt 70-73 and stock made a high of 71 intraday

Following calls were given in yahoo messenger for clients:

Short Omax at 538-540 stop 550 and it just came down to 535 and closed at 542

Short ACC at 1060 stop 1075 and stock came down to 1047

Short Punjab National Bank at 635 stop 645 and stock fell to 626

Short IDFC at 215 stop 217 and stock came down to 211.5

Market outlook for 18/12/07

As soon as nifty broke its strong support at 5985, it crashed heavily and even made a low of 5740, which will act as a support for today's move.Some buying will come today, but in all probability upper level selling will be witnessed again and on upper side 5860 will be major hurdle and remains to be seen whether it can cross that or selling will emerge again..!if market opens on a week note with lower opening, buying will emerge from lower end for sure.Watch out for 5740 and 5860 today and if 5740 is taken out, we might see 5680 as next support area.

Stock watch for the day:

Marico: (68.45) Watch this stock for today and if there is lower opening in nifty and marico is above 67, buy it for target 70-73 and below 67, don't take position.

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