Intraday call performance 17/01/08

To Start with "Market Outlook"- "Market Watch Section"
As expected volatile day today and higher level selling witnessed again.Nifty made a high of 6013 and faced selling and ending was dissapointing as it closed well below yesterday's close at 5913.Till nifty crosses 6100, it will go on facing selling at higher end.

Stock watch for the day:

Inox: This was given a buy call at 182 with stop 178 for target 193 and stock made a high of 203

Following calls were given in yahoo messenger for clients:

Buy India Bank around 233 stop 230...small stop loss and stock zoomed to 235.5 and the came down to hit the stop loss at 230

Buy Essar Oil at around 298 stop 295 and stock zoomed to 303

Buy Sail at 242 stop 239.5...small stop loss and stock made 252

Short IDFC around 226 with stop 229 and stock came down to 217

Short Bajaj Hindustan around 335 stop 336 and stock came down to 327.5

Short RCom around 731 stop 736 and it made 727 and then the stop loss

Buy RCom at 741 stop 735 and stock made 745 and told to come out

Market Outlook 16/01/08

Market witnessed a huge crash yesterday by breaking all inbetween supports to make a low of 5820 and at the last hour recovered well by short covering and came up to close at 5936 and now onwards, till nifty crosses 6100, it will go on facing selling pressure at every raise.FII'S were heavy sellers yesterday.For today, it will face resistance around 6000 first and if crosses then 6060 is tough resistance to cross.Volatility is the name of the game these day's and people with enough patience and courage will earn well in this market.

Stock watch for the day:

Inox Leisure (184): This stock seems to have bottomed out now after started falling from 240 levels.Buy it around 182 with stop 178 for target 188-193.