Intraday Call performance 25/03/08

As expected and told, market witnessed strong pull back and nifty once crossed 4740 easily, allround buying emerged and it took nifty to a high of 4897 and a low of 4617.Now just 2 days left for expiry and market will become more volatile.

Stock watch for the day:

MaxInd:This was given a buy call with stop loss 130 for the target of 150 and the stock made a high of 155 and low of 142

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 4770 with stop 4780 and it made just 4758 and then zoomed to hit the stop loss

Short Nifty Futures around 4835 with stop 4846 and when it went upto 4841, told to come out

Buy RCom around 523 with Stop loss 517 and the stock made 542 and told to cover

Short Orchid around 116 with stop 117 and it made just 114 and then stop loss hit

Short Renuka around 932 with stop 940 and the stock made 912

Short ICICI Bank around 864 with small stop at 868 and it fell to 860 and the hit the stop loss

Short Reliance Energy around 1284 with stop 1290 and made 1254 and told to cover position

Market Outlook 25/03/08

Market will continue to move upwards today also and it's interesting to see what game is set up for this expiry as market is facing selling pressure at every high's and more interesting to see when can nifty cross 4740 comfortably-which infact will move nifty towards 4900-4980 level.For today, 4650 will be crucial level to watch and above 4650 nifty will move strongly towards 4720-4740 big resistance and if nifty starts trading below 4530, it will turn out weak.But, chances of nifty hitting 4800-4900 before expiry is bright and let us see the fun till expiry now.

Stock watch for the day:

Max India (140): Buy this stock in dips with stop loss 130 for the target 146-150