Monday, December 24, 2007

Intraday call performance 24/12/07

To Start with "Market Outlook"- "Market Watch Section"
Dispite less participation, market zoomed as expected and once it crossed 5860 ressitance it was one side move all over again and moved beyond everybody's expectation to make a high of 6000.As Expiry is alos nearing, the volatility will also be high this week.

Stock watch for the day:

Bharti:This was given a buy call above 915 and target given was 950 and stock made a high of 985

Following calls were given in yahoo messenger for clients:

Short MPhasis at 296 stop 300 and stock fell to 295 and hit stop loss

Short Air-Deccan around 269-270 stop 272.2 and stock fell to 265

Short Mic-Electronics at 880 stop 883...small stop loss....so, don't worry...fell to 876 and then hit stop loss

Buy Sail around 268 stop 264 and sail made 272 and told to come out whenit came down to 269

Short IDFC around 215 stop 217 and stock fell to 213 and then hit stop loss

Buy RCom at 723 stop 718 and rcom made 724 and then told to come out when it came down to 722

Market outlook for 24/12/07

Indian market also might follow world markets and move upwards today and the resistance to be watched again will be 5800 and 5840 on upper side and failure to cross might induce higher level selling again.Now, Christmas and New-Year will have an effect in the market and also Gujarath election results will also have an effect slowly in coming day's.Volume might be low today because of these big holiday's as people need money and many of them might also keep away from market for some time playing it safe.So, better to be cautious and book profits whenever it comes.Nifty has great support at 5740 for today and if breaks might test 5700.

Stock watch for the day:

Bharti Tele (919): Watch this stock again and stay above 915 will move towards 930 first and if moves above 930 will induce momentum and might also blast to 945-950.But, only above 930 which will be a major resistance.

n