Intraday Call Performance 20/10/08

High volatile market ending positive

Though market opened positive and went above 3100 in opening bell, trading was very volatile and first hour saw tremendous volatility and afternoon session invited heavy buying that took nifty to make a high of 3238.Market major Reliance Industries took the initiative to lift the market above 3200 today.RBI's announcement to cut Repo rates by 100 bps to 8% with immediate effect and also positive European and Asian markets had positive effects for the market sentiments today.Nifty closed at 3122, up 48 points.Realty and power stocks witnessed some selling pressure. Top gainers on Sensex included the four IT heavyweights, along with HDFC Bank, ICICI Bank, Bharti Airtel and ITC. Sensex losers were BHEL, Grasim and DLF, among others.Higher levels were exerting pressure today also.

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 3140 with stop loss 3128 for target 3175 and it made 3159 and then hit the stop loss

Short Nifty Futures around 3170 with stop loss 3185 for target 3120 and it made 3144

Buy Nifty Futures around 3130 with stop loss 3110 for target 3180 and it made 3168

Short Reliance around 1290 with stop loss 1302 and it made just 1282 and then hit the stop loss

Short L&T around 798-800 with stop loss 805 for target 765 and it hit the small stop loss

Short HDIL around 129 with stop loss 131 for target 123 and it made just 126.5 and then hit the stop loss

Short Reliance Infra around 498-500 with stop loss 506 and it hit the stop loss

Buy Reliance at 1335 with stop loss 1320 for target 1365-1380 and it made 1380

Buy ICICI Bank around 410 with stop loss 402 and it made 417

Buy Reliance Capital around 638 with stop loss 630 for target 660 and it made 653