Intraday Call Performance 16/10/08

Indian market crashing and closing weak

It was a terrible day for indian market as market opened in deep red below 3200 and made a low of 3099.Asian and European markets also had free fall today which also effected indian market.Though recovery came in late afternoon lifting nifty above 3300 again, it couldn't sustain at higher levels and slipped and closed weak at 3269, down 69 points from previous close.Huge sell off was seen in oil, capital goods, technology, auto and power stocks.Though RBI measures were positive, global weekness was too much to handle for indian market and also the inflation numbers which came out at 11.44% lower than last time around couldn't help indian market in any way.Select banking and financial stocks also recovered on hopes that further steps will be taken to increase liquidity in banking system.The Sensex and Nifty tested new-2008 lows in today's trade. The market breadth was negative with advances at 366 against declines of 899 on the NSE. Top Nifty gainers included Reliance Communications, DLF and Unitech while losers included Nalco, Hindalco and Suzlon.

Following calls were given in yahoo messenger for clients:

Huge profits for all my clients today

Short Nifty Futures around 3205 with stop loss 3220 for target 3160 and when it made 3130, told to cover the full position....HUGE PROFIT

Short Sail around 100 with stop loss 101.2 for target 95 and it made 96....GOOD PROFIT

Short Unitec around 81 with stop loss 82.2 for target 75 and it made 77....GOOD PROFIT

Short Reliance Infra around 550-555 with stop loss 566 for target 520 and it made 500....HUGE PROFIT

Buy SBI around 1420 with stop loss 1410 for target 1465-1490 and it made 1559....HUGE PROFIT