Intraday call performance 26/02/08

It was gao up opening today and nifty reacted exactly at 5260 ressitance and was playing in a narow range afterwards.Once it broke 5260, it was allround bying in the market and nifty rose to 5281 and closing again positive and many of the stocks which had gone for corections recovered well today.

Stock watch for the day:

Essar Oil: This was given a buy call with stop 229 for target of 242-245 and the stock amde a high of 242

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 5240 with stop 5220 and it made 5255

Buy J.P.Associates around 251 with stop 247 and the stock made 273

Buy EKC around 321-322 with stop 318 and the stock zoomed to 332.5

Short HDIL around 842 with stop 848 and ithit the stop loss

Buy G.E.Shipping around 440 with stop 438 and the stock hit stop loss and small loss

Buy R-Power around 446 with stop 442.7 and teh stock zoom dto 452.6

Buy Bajaj Hindustan around 256 with stop 253.5 and the stock made 259.4

Short Tisco at around 815 with stop 819 and the stock made 802

Market Outlook 26/02/08

Atlast nifty broke the strong support at 5070, but surprisingly made a low of just 5055 and overall heavy buying resulted in taking nifty to a high of 5212 and within one day market again looking good now ! Anyways, for today 5260 is one resistance and if crosses that , then it will aim for 5300 and then 5310.On downside, below 5200, nifty has support at 5160 and if breaks that 5100 will be very strong support.So, overall makes an interesting day today.Some selling might come from higher levels.

Stock watch for the day:
Essar Oil:Watch this stock which has support at 229 and above 236 will fly to 242-245.Below 229, it is not a buy.