Intraday call performance 14/03/08

As expected and told here, nifty never broke 4600 and remained bullish staying above that throughout the day.Interestingly nifty even broke 4740 strong ressitance and ended at 4746 showing strength in the market now.Closing was important for monday's market.Next week trading will ne interesting now.

Stock watch for the day:

CESC:This stock was given a buy call for target 492 and this stock was too volatile today and initially made 479 and came down to break the support of 460 and then again got past 460 and made a high of 501

Following calls were given in yahoo messenger for clients:

Short Nifty Futures at 4710 stop 4725 and it made 4690 and told to come out

Buy Nifty Futures around 4680 with stop 4660 and stop loss hit

Short Hindalco around 179 with stop 180.5 and the stock made just 178 thrice and then hit the small stop loss

Buy Renuka around 1030 with stop 1018 and the stock made 1090

Short DLF around 630 with stop 634.5 for targets 610-595 and it made 627 and then hit the stop loss

Buy RCom around 501 with stop 496 and it made 517

Short Maruti around 816 with stop 821 and stop loss hit

Short RCom around 520 with stop 525 and it made 502 and told to come out

Short Jet Airways around 601 with stop 602.5 and it just amde 598 and then hit the small stop loss

Market Outlook 14/03/08

After dropping to low of 4580, nifty might move up today and on upperside 5740 is again a main hurdle to cross and today being the last day of the week, it's interesting to see the market behaviour.For today, watch out for crucial support at 4600 and above this nifty will move towards 4675 first and then if crosses will try for 4740 tough resistance.On lower side, if nifty breaks 4600, trend might become very bearish again and nifty might even crash to 4500 levels today itself.Chances of breaking 4600 is very remote today as also U.S markets have recovered yesterday.

Stock watch for the day:

CESC (470): Watch this stock and if support 460 is held, buy for target 485-492.Below 460, it is not a buy.