Intraday call performance 16/01/08

To Start with "Market Outlook"- "Market Watch Section"
Nifty broke its short time support at 6100 yesterday and then came crashing down and today it continued its weekness and never even touched 6100 and merely crashed and lost around 250 points as it made a low of 5825 and closed at 5936

Stock watch for the day:

LITL :This was given a buy call only above 800 for target 825 but stock never reached 800 and once it broke its suport at 785 it came crashing down to 700 level.

Following calls were given in yahoo messenger for clients:

It was a good trading day for my clients in this voaltile market

Take a small risk and Buy LITL around 763 with stop 759 and stock hit the stop loss and minor loss

Buy Bata around 246 stop 243 and when the stock made 250, gave a call to come out.

Short Essar Oil around 304 stop 307 and the stock came crashing down to make a low of 285

Short BPCL around 455 stop 459...small stop loss and stock made 452 and then hit stop loss

Short IDFC around 221 with stop 224 and the stock came down to make 212.7

Short Bajaj Hindustan around 316 WITH stop 320 and the stock came down to make a low of 303.5

Market outlook 16/01/08

Nifty finally broke the trading range of 6100-6360 and now heading towards 6000-5900 level.For today, 6120-6130 will be very tough resistance on the upper side.Below 6050-a minor support nifty will go to 6000 today and then 5960 will be support.Overall an interesting day of trading today with volatility highlighted and trend downside.Global cues are also negative and Dow also ended more than 200 points down yesterday.

Stock watch for the day:

Lanco Infra (LITL) 794: Watch this stock above 800, it will shoot up to 825 as first target and 785 will be the strong support for this on downside.