Intraday call performance 15/02/08

After opening low, market started recoevring as expected and again it was a big move making a high of 5315 and closing alos well above 5260 resistance which is a good sign for the market.Nifty seems to be heading towards 5500 now.Coming day's will be interesting and will provide the answer.

Stock watch for the day:

RNRL:This was given a sell call below 135 for target 126 and the stock made a low of 127

Following calls were given in yahoo messenger for clients:

Short nifty futures arond 5265 with stopp loss 5285 and told to come out at 5258 in small profit

Short Nifty Futures now at 5285 stop 5295 and IT made 5260

Short Nifty Futures again at 5280 stop 5290...small stop loss and IT made 5256

Buy RCom around 600 with stop 593 and the stock made 619

Buy Union Bank around 195 with stop 192 and stock zoomed to 200 and told about stiff resistance at 201

Buy VSNL at 498 with stop 496 and the stock made 500 and told to come out at 499

Short VSNL at 500 with stop 503 and the stock made 496 and then hit small stop at 503

Short Tisco around 810 with stop 816 and the stock made 801 as target given was 800

Market Outlook 15/02/08

Nifty went on breaking all resistances and closed above 5200 all in one day and now close to two important resistances at 5260 and then 5350 and higher level selling might be seen after this big rally yesterday.For today, below 5260 nifty will face selling and on downside, it has supports at 5140 and then last and strong support at 5070.

Stock watch for the day:

RNRL (132): Watch this stock and failure to cross 135 will invite selling which might take it to 126-122 level again.