Intraday call performance 04/07/08

News based volatile market

volatility continued in the indian market and today being the day of hectic political activities with Samajawadi Party about to join the government and Left about to withdraw from the government.Trading was too volatile today with moves on both sides and market started the day with little upper side from yesterday's closing and then gained momentum just before inflation numbers came which surprisingly came below 12% as Inflation for week ended June 21 has come at 11.63% versus 11.42% and market discounted this small surge in inflation and reacted well bosting nifty movements on the upper side and then after sometime came down heavily and then again recovered well to go well past 4000 and even closed in green above 4000.Stocks like Reliance Capital which was boosted by news of S.P joning the government exploded from low of 860 level to make a high of 992 in today's trade.This was even told here in the market outlook section today.Today, L&T, Reliance Industries, ICICI Bank, Reliance Communication, ITC, BHEL, HDFC, DLF and ONGC were big contributors to both indices.

Stock watch for the day:

ICICI Bank: This was given a sell call below 570 for targets 555 and it made a low of 560

Following calls were given in yahoo messenger for clients:

Clients continue enjoying profits here irrespective of volatile market conditions

Short Nifty Futures around 3930 with stop 3955 and it just made 3920 and then stop loss hit

Short Nifty Futures around 3970 with stop 3985 and it made 3935 and told all to cover position

Short ICICI Bank at 584 with stop 589 and it made 563....very good profit

Short Cairns around 255 stop 258 and it made 246....very good profit

Short RCom around 405 with stop 407 and it made just 400 and then hit the small stop loss

Short SBI around 1125 with stop 1130 and it made 1100