Intraday call performance 12/02/08

Though 4800 support was not broken today, market witnessed a volatile day of trading and on the upper side it made a high of 4950 and the ending was at red again closing at 4838 and market was unsettled at high shows more weekness in the market.

Stock watch for the day:

EKC: This was given a buy call above 306 for target 322 and it just made 315
Following calls were given in yahoo messenger for clients:

Short Nifty Futures at 4860 with stop 4875 and it fell to 4851 and then hit stop loss

Buy Nifty Futures around 4890 stop 4875 and it made 4920

Short Bajaj Hindustan around 256 with stop 261 and stock made 236 within 10 minutes

Short NTPC around 192-193 with stop 196 and when it made 191, told to come out and later it made 182

Buy Satyam Computers at 420 with stop 418 and stock made just 421 and then hit stop

Buy VSNL around 464 with small stop at 460 and the stock zoomed to 472 and then hit stop loss

Market Outlook 12/02/08

It was a scary fall yesterday and as was saying in all these times, yesterday did turn out to be a big deciding day and nifty straight away made the lowof 4800 which was told a possibility last week.Now for today, 4800 will be strongest supporta nd below that one more support at 4740 and if these 2 supports are held, maybe bottom is made forbig upmove or if nifty breaks 4740, there might be one more panic and nifty might slide again to 4550-4600 straight.Watch out for 4800 on downside and if held, upmove might extend to 4890 and then 4930 level and above 4930 nifty might zoom again.If 4800 is broken anytime, then nifty might test 4740 which is the strongest support for today.

Stock watch for the day:

EKC: Above 306, EKC will target 322-324 today and below 306, it is not a buy.