Intraday call performance 28/08/08

Last hour selling as expected

Though market started on a low note breaking 4280, it was trading in a range without moving much on either direction for most part of the morning session.The last hour brought in severe selling and nifty closed at 4214, down 78 points from the previous close.Major sell off in heavyweights started dragging markets lower in second half of session.The Asian markets closed mixed while European markets were weak.The market breadth was negative with advances at 305 against declines of 957 on the NSE. Top Nifty gainers included Suzlon, Tata Power and Hero Honda while losers included Hindalco, TCS,Reliance Industries, Reliance Communication, BHEL, TCS, L&T, ICICI Bank, and Siemens.
Inflation data announced.....down to 12.40% Vs 12.63%

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 4280 with stop loss 4290 and it made 4265

Short Reliance Capital at 1280 with stop loss 1288 and it made 1265

Short Tata Power around 1020 with stop loss 1025 and it hit the small stop loss

Short Adani Enterprises around 569 with stop loss 573 and it made 551

Short Suzlon around 209 with stop loss 210.5 and it made just 207.9 and then hit the small stop loss