Intraday call performance 20/12/07

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

Today being the last day of the week, strangely volatility was less and nifty moved between the range 5740-5800 for most part of the day and never broke 5700 support nor 5800 resistance also.Next week opening might decide again.

Stock watch for the day:

Nahar Industries: This was given a buy call with stop loss 144 for target 152 and stock made a high of 151.8

Following calls were given in yahoo messenger for clients:

It was an excellent day of trading for my clients

Buy Viceroy Hotels at around 115.5 -116 stop loss 114 and stock zoomed to 118 and for those who haven't covered at 118, told to come out at 116.5

Take a small risk and short small quantity of Monnet Ispat at 500 stop 503...remember small quantity and stop also small and stock made a low of just 499 and hit the stop loss

Short Ansal Properties at 375 stop 380 and stock made 358

Short Air Deccan now at 295 stop 298 and stock fell to 272

Short RCom at 710 stop 712 and stock fell to 702

Market outlook for 20/12/07

Market is not showing any direction and nifty is trapped between 5670-5840 for almost a week now.At every top level, selling is seen and yesterday nifty also broke 5700 and made a low of 5677, but recovered fast to close at 5750.Today, 5770 will be resisitance and above that might try for 5840-5860 resistance and if doesn't cross will face selling again.If nifty doesn't even cross 5770, then chances of breaking 5700 today is very high.Traders are also seems to be in a a hurry to take out money at every high ahead of big holiday's..Today, if nifty breaks 5700, watch out for 5665 support and if breaks that also might take it straight to 5630.

Stock watch for the day:

Nahar Industries: Buy this stock with stop loss 144 for target 152 and if crosses 154, it might even zoom to 160