Intraday call performance 08/02/08

To Start with "Market Outlook"
Nifty went on breaking supports most part of the day and even tested the lower end support at 5000 as it made a low of 5034 and then at the fag started recovering and made a high od 5173 and closed at 5120.Now the big day on monday will be interesting as much awaited reliance power getting into the market.

Stock watch for the day:

RNRL:This was given a buy call above 153 for target 157-163 and the stock made a high of 157

Following calls were given in yahoo messenger for clients:

Short RCom around 638 stop 643 and stock made just 636 and then hit the stop loss...a small loss

Buy RCom around 640 stop 637...small stop loss and the stock made 647.5 and then came down

Buy Bajaj Hindustan at 219 with stop 217 and the stock zoomed to 230...A BIG PROFIT

Short Rolta around 287 with stop 289 and the stock made 282.8 and then went up

Short RCom around 646 stop 649 and stock made a low of 640.7 and then hit the stop loss

Short Tisco around 765 with stop loss 767 and the stock made 753...GOOD PROFIT

Buy Air Deccan at around 187 with stop loss 185 and the stock zoomed to 201...A BIG PROFIT

Market Outlook 08/02/08

After yesterday's volatile market and heeavy selling, there might be some recovery today from lower end.There might be gap dow opening or even gap up opening as market is very unpredictable today.But there will be some pull back from lower end for sure.If market continues from yesterday, then we got to look at lower end supports at 5080 and then 5000.On upper side, above 5200, look out for 5260 strong resistance again.However in these kinds of market taking overnight positions is very dangerous and only intraday is looking safer if one plays with ultimate caution without hurrying into trades.As i told you 11th of this month will be an interesting day because of reliance power entry.

Stock watch for the day:

RNRL (151): Watch this stock at supports 140-130 in case of gap down opening or else buy this above 153.6 for targets 157-163