Intraday call performance 07/03/08

World market weekness effected indian market also and as told it broke 4800 support and made a low of 4672 on downside and at the end of trading, picked up again and moved above 4700 again to reach 4792 and came down again to close at 4760.Next week is interesting now as nifty already cleanly broke strong support at 4800 and now looking for more downside.

Stock watch for the day:

Bank of India :This was given a sell call with stop 292 for the target of 274 and the stock made a high of 285 and low of 252

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures near 4730 with stop 4710 and it made 4755 and then hit the stop loss

Wait for dips and buy Satyam at 414 with stop at 413.5 and it made 417 and then hit the small stop loss

Buy NTPC around 187 with stop loss 185.5 and the stock made 188 and then hit the stop loss

Buy Glenmark Pharma around 475 with stop 471 and it made 482 and then hit the stop loss

Short NTPC around 186 with stop 188 and it made 181

Short BHEL at 2010 with stop 2030 and the stock made 1950

Take minimum risk and Short 30 BHEL at 2024 with small stop at 2030 and the stock made 2005

Market Outlook 07/03/08

There might be some buying coming today and upper side will find resistance again.For today, 4960 will be stiff resistance again and any move above that might try 5000 target straight and nifty below 4960 still reamians weak only.If nifty moves below 4900, it might test 4860 first support and if breaks that then again onus will be on 4800 strong support.Overall interesting to see the weak end today.Market may be volatile today also.

Stock watch for the day:

Bank of India (285): This stock has taken the beating from last few day's and still looks weeker only.Today watch this stock and on upper side, if not able to cross 292, just short it for target 279-274.