Intraday Call performance 05/03/08

It was a fantastic day of trading as nifty still maintained strong support at 4800 and moved upwards strongly at the end of the day to make a high of 4937.Tomorrow being a trading holiday, focus still will be on the on the range of nifty 4800-5000.Still the trend is not clear as it has not broken out or broken down.Will be interesting to see how the week ends this time around.

Stock watch for the day:

Ispat Industries: This was given a sell call below 40 for target 36 and the stock made a high of 38.5 and low of 36.4

Following calls were given in yahoo messenger for clients:

It was again a great profit day for all my clients

Short Nifty Futures around 4900 with stop 4935 and it made 4830 and told to come out

Short Nifty Futures around 4910 with stop 4935 and it made 4840 and told to come out

Short Suzlon around 242 with stop 246 and suzlon made 229

Short HDIL around 742 with stop loss 748 and it made 700

Short Renuka Sugar around 1015 with stop loss 1025 and when renuka made 935, told to cover the position

Short Maruti around 924 with stop 928 and the stock made 915 and then hit the small stop loss

Market Outlook 05/03/08

Market seems to be playing around crucial support of 4800 and today also 4800 support will be very very crucial.Till it holds on to 4800, no problem.But, once if it gets broken allround panic will start in the market and one more strong selling will emerge for sure.For today, 4900 will be resistance and above that 4970 will be very very strong resistance and on downside, below 4900 nifty will try to test 4800 again and if breaks 4800, then will go down to first support at 4740 straight

Stock watch for the day:

Ispat Industries (38): This stock has broken strong support at 40 and now for today, below 40, it will test 36 and then 34.