Intraday call performance 21/01/08

To Start with "Market Outlook"- "Market Watch Section"
It was a historic scary fall and made many investors face heavy loss and intraday players again were the winners today as it was money minting day for them in this fall.NIfty made a record low of 4977 losing more than 700 points in intraday...! though at the closing bell nifty recovered around 200 points.Now, this 4977 will act as stop loss support for coming months of trading.Overall it was one severe fall and when it broke its strong support at 5460, fall was one sided.

Stock watch for the day:

GMR Infra: This was given a short call below 211 for target 198 and the stock amde a low of 150

Following calls were given in yahoo messenger for clients:

Today was great profit for all my clients as they all enjoyed the market crash

Short Air Deccan at 231 stop 233.2 and the stock made a low of 185

Sell SBI around 2345 stop 2360 and made 2340 and then hit the stop loss

Buy Inox at 172 stop 169....small stop loss and the stock hit the stop loss

Short RCom around 673 stop 680 and stock made a low of 590 and told to book profit

Short RCom again around 645 stop 652...small stop loss in this volatile market....remember and stock came down again to hit 585 and gave teh call to cover the position and finish off trading for the day

Market Outlook 21/01/08

NIfty crashed due to heavy selling by FIIs and volatility will continue for the time being and many investors are trapped in futures holding long positions and are worried a lot.For today, some pull back will be seen for sure and 5750 will be the trend to watch out for...if nifty is able to move above 5750, then it might target 5800 on the upper side and if nifty holds above 5800, it is good for the market and if nifty trades below 5700, then market will be in trouble again and lower supports are at 5660 and then 5625.

Stock watch for the day:

GMR Infra (203): Watch this stock for some time and if not able to cross 211, short it at high for lower target of 198