Intraday calls performance 28/01/08

To Start with "Market Outlook"
Today nifty broke strong support at 5350 and started falling as told here and made a low of 5072 and at the end recovered some points to close at 5274.Now 5350 range will be again a resistance and above that buyng will emerge.

Stock watch for the day:

RCom: This was given a buy call above 652 and clearly told below 650 it is not a buy and today because of market pressure, it broke 650 and went down to make a low of 614.

Following calls were given in yahoo messenger for clients:

Buy EKC at 288 stop 284 and stock went upto 291 and when it came down to 288 told to exit

Short Bajaj Hindustan around 204 with stop 207 and stock made a low of 196.5

Short CESC AT 491 with stop 494...very small stop loss and stock made a low of 487 and then hit stop loss

Buy Bank of India at around 389 stop 387 and when the stock zoomed to 399 told to come out

Market Outlook 28/01/08

FII's and DII's have become net buyers now and since then nifty became very bullish moving on the upper side breaking all resistances in between.This thursday is again an expiry day and lots of activity and volatility will be seen in the market.For today, above 5350 nifty will face first and strong resistance around 5465-5475 and if gets past that then 5585 is again one more resistance for today.On downside, break below 5350, supports are at 5300 and then 5250 and if breaks 5250 then we can expect free fall

Stock watch for the day:

Rcom (666): Remain above 652, this stock will fire towards 675-690 today.Below 650, it's not a buy.Don't buy at higher range.