Intraday call performance 25/02/08

Heavy drama took place today as nifty broke strong support at 5070 and madea low of just 5055 and bounced back strongly to break all upside resistance and made a high of 5212 and closed just around 5200 and is at an interesting stage now.There are many things to consider in coming days of market and trading will be interesting.

Stock watch for the day:

J.P.Associates:This was given a buy call with stop 240 for target 260-265 and the stock amde a high of 261

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 5125 stop 5140 and it made 5115 and then told to cover

Short bartronics around 209 with stop 211.2 and the stock made 200 exact to my first target

Buy Voltas around 201 with stop 199.8 and the stock made 203 and when it came down to 201.5, told to come out

Short J.P.Associates around 244 with stop 248 and it made just 243 and stop loss hit

Short Adlabs around 850 with stop 856 and the stock made 845.6 and the hit stop at 856

Short RCom around 581 with stop 586 and the stock made 578 and told come out at 582

Short LITL around 420 with stop 424.5 and the stock made418 and then stop hit

Buy DLF at around 834 with stop 830 for target 850 and the stock zoomed to 848

Market Outlook 25/02/08

As happened in the last few day's, even if nifty opens a high it is expecetd to face selling at higher levels again.Asian markets are showing strong pull back from lower levels and indian market also might move up first accordingly.The support level to watch for is 5065 on downside and any break below this might take nifty towards 5030-5000 today itself. Now that expiry is also nearing and lots of activities will be seen during this time for sure.On upper side, if nifty clears 5140, it will face resistance around 5180-5200 which will be very strong resistance to watch out for.Above 5200 again it will be test of 5260.Volatility will be high again in coming day's as well. Strong support is 5065 and unless breaks that trend is up now.

Stock watch for the day:

J.P Associates (247): Watch this stock and if remains above 240, will fly to 260-265 today.Below 240 is not a buy.