Intraday call performance 07/01/08

As expected and told here, nifty showed weekness and started recovering from lower level and atlast closed little above yesterday's close.Interesting point is nifty never reached 6300 resistance the whole day.

Stock watch for the day:

Orchid Chemicals: This was a clear buy above 300 for taregts 320-325 and stock made a high of 321

Following calls were given in yahoo messenger for clients:

Short Petronet around 120 stop 121.3 and the stock came down to 117.8

Buy NDTV around 494 stop 488 and stock zoomed to 506

Short HEG around 535 stop 539...small stop.....don't worry and stock came down to 520

Short Nicolus Piramel around 348 stop 352 and came down to 344 and told to cover at 345

Market Outlook 07/01/08

Although nifty is in bullish mode, it will face selling at higher level today.Moreover there is weekness in global market which also will effect indian market. Dow jones also closed down more than 200 points.For today, if nifty moves above 6300 then it will move towards 6330-6350.On downside, 6230-6240 is the support level.Below 6225, nifty might slide to 6190 straight.If nifty opens low today and supports are held, buying will come from support levels.

Stock watch for the day:

Orchid Chemicals (309): Watch this stock above 300 and if breaks 315 will fire towards 325-330 today.Below 300 it is not a buy today.