Intraday Call Performance 06/11/08

Market witnessing dangerous volatility today..!!

Market started off breaking the crucial resistance 2950 in the opening bell and went down to test major support at 2850 and never broke that as playing range in nifty spot was between 2850 and 2950 for most part of the day and in the late afternoon session buying came in heavily to lift the market above 2950 and crossing even 3000 mark, but came down again in the last hour to break 2950 again and close at 2892, down 102 points.Today also Reliance Industries took the major role in breaking the market down.Top Sensex gainers included JP Associates, HUL, Ranbaxy and DLF, whereas losers were Tata Steel, Tata Motors, Sterlite Industries and RIL, among others.

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 2935 with stop loss 2951 and it just made 2951 and then hit the stop loss

Short Nifty Futures around 2915 with stop loss 2925 and the stop loss hit

Short DLF around 258 with stop loss 262 and it just made 254 and then small stop loss hit

Short RCom around 220 with stop loss 224.5 and it hit the stop loss

Short Reliance Capital around 632 with stop loss 639 and it just made 624 and then hit the stop loss

Short LITL around 170 with stop loss 173 for target 160-153 and it made 157....VERY GOOD PROFIT

Short ICICI Bank around 435 with stop loss 444.5 for target 422 and it made 426....VERY GOOD PROFIT

Short Reliance Capital around at 630 with stop loss 642 for target 600 and it made 604....VERY GOOD PROFIT

Short HDIL around 118 with stop loss 121.5 for target 113 and it made 115....GOOD PROFIT