Intraday calls performance 30/01/08

To Start with "Market Outlook"
Nifty broke 5200 support today and made a low of 5142 and tomorrow being an expiry day, too much voaltility is expected.Today's FED meeting also holds lot of weight for tomorrow's market direction

Stock watch for the day:

RCom: This was given a sell call at 655 with stop 661 for target of 635 and the stock made a high of 658 and low of 608

Following calls were given in yahoo messenger for clients:

Buy Unitec around 393 stop 390 and stock made 395.4

Short RCom around 635 stop 639 and stock came down to 608

Short Unitec around 388 with stop 394 and stock made 370

Buy Bajaj Hindustan around 207 stop 206...smal stop loss...and stock made 210 and the hit small stop loss

Market Outlook 30/01/08

Nifty is too volatile and moving around 5400 range and if starts moving above that might hit 5600 also before expiry.The expiry effect is also clearly seen these day's.Next 2 day's volatility will continue for sure.On downside, if nifty breaks 5200 weekenss wil come to the market and nifty might test 4900-5000 before expiry.For today, watch out 5300 resistance and above that 5380 will be very strong resistance to get past and will be interesting to see whether there will be any gap up opening like yesterday.

Stock watch for the day:

RCom (643): Short this stock around 654 with stop loss of 661 for lower target of 635 and if gets past 661, it will move towards 670-675.