Intraday call performance 20/02/08

World market weekness effected indian market also and nifty broke support at 5240 and directly came down to test strong support at 5140 and even broke that later on and made a low of 5116 and at the end closed at 5154 showing weekness in the market.

Stock watch for the day:

Bharti Tele:This was given a buy call above 894.But the call not initiated as the stock made a high of just 879

Following calls were given in yahoo messenger for clients:

Buy Sterilite technologies at 211 with stop 208 and it made just 214 and later told to come out at 209 with small loss

Buy PFC around 191 with stop loss 188.5 and the stock zoomed to make a high of 197

Buy OBC around 271 with stop 267.5 and the stock hit the stop loss

Buy Bharti Tele around 860 with stop 858 and the stock zoomed to 869

Market Outlook 20/02/08

It was allround buying yesterday which took nifty towards 5368 high and at the end gave up some gains it had in the morning to close at 5281.For today also trend is bullish only until nifty holds on to 5220 and 5140 styrongest supports on downside.Every dip is used for buying and nifty is heading towards major resistance of 5550-5600 level where selling is expected.For today, above 5300 it will again move towards 5350 first and then will aim for 5400 level and below 5300, nifty might slip to 5240 level, which should hold or else test of 5220-5200 is possible.Today even if there is lower opening, there will be buying coming at low.

Stock watch for the day:

Bharti Tele (889):Watch this stock above 893 and might blast upto 915-925