Intraday call performance 11/03/08

Though market opened low, it recovered very soon and made a high of 4888 and closed above 4800 showing strengtyh in the market.On upper side 5000 might be resistance in coming day's and will be interesting to see the market behaviour.

Stock watch for the day:

Sail: This was given a sell call below 240 for the target of 232-228 and it opened at target and went up and came down again to make a low of 231

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 4820 with stop 4800 and when it made 4835, told to come out

Short Purvankar Projects around 249 with stop 251 and within 3 minutes it made 245 and then hit the small stop loss at 251

Short Orchid Chemical around 221 with stop 221.5 and it made 218.4 and then hit small stop at 221.5

Short Renuka Sugars around 935 with stop 942 and the stock made 920 first and then again zoomed to 938 and came down to 928 and then hit the stop loss

Short Icici Bank around 864 with stop 871 and the stock made 852 from 860 and then hit the stop loss

Buy Renuka Sugars around 935 with stop 926 and the stock 985 and told to come out there and later it made 1161

Buy Bank of India around 274 with stop 271 and it made 276 and then hit the stop loss

Market Outlook 11/03/08

Market witnessed a strong pull back after making a low of 4620-just short of 70 points of my traget 4550 on downside and made a high of 4815.Still nifty looks week only as it is also effected by world market weakness.For today, remain below 4815, nifty will again move downwards towards 4750 suport first and if breaks it will slide towards 4700 and then 4660 also.If nifty moves above4815 also, higher level it will face selling again for sure.So, be cautious at every higher levels.

Stock watch for the day:

SAIL (237): If this stock doesn't cross 240, it will fall down to 232-228 today.