intraday call performance 13/03/08

Nobody would have imagined nifty to break 4620 support in one day..!Market is too volatile these day's and even world market sentiments are effecting indian market too much.Today it was weekness in the opening itself and later on it went on breaking supports one by one and atlast made a low of 4580 and will this be saved in coming day's is a million dolar question as market closed above 4600 at the end.

Stock watch for the day:

Cairn: This was given a buy call with stop loss 237 for target 257 and it just made 251 as high in the morning and then came down to break its strong support.

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 4650 stop 4630 and it made 4698

Buy Future Capital Holdings around 502 with stop 499.5 and the stock amde 508 and then came down

Buy Unitec around 278 with stop 276 and it made 282.5 and then came down to hit the stop loss

Short Maruti around 844 with stop 849 and the stock came down to 835

Buy Onmobile around 512 with stop 508 and the stock made 515 and told to cover at 513 and later it made 527

Short Unitec at 274 stop 276 and stop loss hit

Short Onmobile around 514 stop 517 and it hit the stop loss

Market Outlook 13/03/08

After opening strong, nifty found exact resistance around 5000 leevls and it seems that nifty will play between 4800-5000 for few day's again and then break out in one direction.For today, above 4920 it may retest 4965 level and remain below 4900 it may slide to 4850 support and break of it will test 4820 last support.Again an interesting day ahead for traders and as i said, it seems nifty will move between 4800-5000 range now.
Stock watch for the day:
Cairns (247): Buy this in dips with stop loss 238 for target 256-264.Don't initiate trade below 238.