Intraday call performance 03/03/08

As expected, market opened week and for most part of the day it saved 5000 support and at the last hour it even broke 5000 and made a low of 4936.Now, in coming day's nifty will test strong support of 4800 again.This week trading will set the trend for the market.

Stock watch for the day:

Essar Oil :This was given a buy call with stop 250 for target 270 and the stock made 266

Following calls were given in yahoo messenger for clients:

Even in this scary market, our clients did well today....!

Buy Onmobile global around 608 with stop 600 and the stock made 614 and then hit the stop loss

Wait for dips and buy NTPC around 196 with strict stop at 194.8 and NTPC made 197.5 and then told to come out at 196

Short NTPC at 195 with stop 196.5 and the stock made 188

Buy Bajaj Hindustan around 239 with stop 237 and the stock zoomed to 254

Buy Essar Oil around 252 putting a small stop at 250 and the stock made 260

Buy Sail around 242 with small stop at 240 and the stock made 245 and then hit the stop loss

Short RCom around 557 with stop 561 and the stock made 536

Market Outlook 03/03/08

Today, nifty will face resistance around 5260 and below that it will remain week and above that will target 5300.If nifty doesn't cross 5260, it will definitely slide and watch for the supports at 5200 first and then straight to 5140 support and if breaks 5140, then 5070 will be very very strong support.It might take a day or two to understand the budget and then react accordingly and setttle in a range.Volatility has become a part of indian market these day's.So, even if market goes up, it will face selling at higher levels.There might be a gap down opening also today, as opening itself is very unpredictable today..So, watch out.

Stock watch for the day:

Essar Oil (259): Watch this stock as it has just started gaining momentun and if remains above 250, it will blast to 270 today and below 250 it is not a buy.