Intraday call performance 07/02/08

To Start with "Market Outlook"

Nifty crashed today after remaining above 5300 for half of the day and then started falling and started breaking supports one by one and once it broke 5260 the fall was severe and made a low of 5114 and closed very week at 5133.Now onwards 5260 will be tough resistance on upper side amd game is set for reliance power entry now.

Stock watch for the day:

Tisco:This was given a sell call below 816 for target 776 and the stock made a high of 814.6 and low of 765.

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 5335 stop 5350 and it made 5255..but told to cover at 5260..HUGE PROFIT

Buy Nifty Futures at 5150 stop 5135 and told to cover at 5165

Buy EKC around 325 with stop loss 321 and the stock made 334

Short NDTV around 414-415 with stop loss 416.5 and stop loss hit...so, small loss

Buy NTPC at 215 now stop 213 and stock made 216.8 and then hit stop loss

Buy RCom around 656 stop 650 made 666 and told to exit Buy Bajaj Hindustan around 226 stop 223 MADE 231 and told to exit

Market Outlook 07/02/08

Reliance power is entering the market on 11th of this month and everybody is anxiously waiting for that day and what is in store for the market during that time now is interesting and there seems to be lot of market manipulation going on.Yesterday market was very volatile and opened week and at the end saw some buying and for today also trend seems to be week only and if opens high, there might be selling at higher levels and if opens low, buying might come at lower end.Till 11th of this month this trend might continue without giving any clear direction for the market.Anyhow, for today watch for 5365 trend and if starts moving above that will target 5415 on upper side and selling might come here.If nifty stays below 5365, then it will move down towards 5300 first and then below that will test 5260 again.

Stock watch for the day:

Tisco (799): Watch this stock on the upper side and if fails to cross 816 will face selling and will come down towards 788 first and then 776