Intraday call performance 13/02/08

Today as expected market was positive and even made a high of 4987 and higher level selling did come again as expected and nifty low was recorded at 4836, thus protecting 4800 for third consecutive day and closed at 4929.Tomorrow will be interesting to see whether nifty can cross psychological resistance at 5000 or not.

Stock watch for the day:

Developement Credit Bank (D.C.B):This was given a buy call above 98 for target 105-110 and the stock made a high of 106

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 4960 WITH stop 4981 and the stock made a low of 4960 and gave a call to cover between 4855-4865

Short RNRL around 124-125 stop 129 and stock made a low of 110

Buy Bajaj Hindustan around 237-238 with stop 234 and the stock made 241.5 and then hit stop loss

Short Tisco around 742 with stop loss 750 and stop loss hit

Buy Cairn India around 201 with stop 199 and stock zoomed to 206 and told to come out there.

Short Tisco around 764 with stop 767 and when the stock amdea low of 746, told to cover the position

Market Outlook13/02/08

Nifty has two important supports at 4800 and 4740 and till these supports are held trend is up.For today, it will move up towards 5930 first and then crossover 5950, allround buying might come.But 5930-5950 range is very strong resistance and there are possiblity of higher level selling again.So, play with caution in this volatile market.Yesterday DOW has ended in green and nifty also might move up and then face selling.
Stock watch for the day:
Developement Credit Bank (D.C.B): This stock is on the recovering edge now and one can buy this stock with stop loss 98 for targets 105 and 110.Below 98, it is not a buy.