Intraday Call performance 27/03/08

Extreme volatile day ended with nifty closing at almost the same price of yesterday and now nifty is just above 4800 like yesterday and again nifty might take 2-3 days to settle down from expiry and show the direction to the market.Today's high was recorded at 4864 which came in the late afternoon session as told here and the nifty spot low was 4770.

Stock watch for the day:

Reliance Energy: This was given a short call with stop 1325 for target 1260 and the stock made a high of 1310 and low of 1265

Following calls were given in yahoo messenger for clients:

Short Bajaj Hindustan around 192 with stop 193 for taregt 186-182 and the stock came down to 188.4 and then went upto hit the small stop loss

Buy Crompten Greeves around 273 with stop 270.9 and the stock made 280

Short RCom around 524 with stop 531 and the stock made a low of 513 just short of 3 points of my first target at 510

Short RCom again around 537 with stop 543 and the stock and the stock made 527 and told to come out

Short 50 stocks of Reliance Energy around 1315 with stop 1335 and the stock came down to 1265

Market Outlook 27/03/08

Today is expiry day and if indian market opens week and 4740 is not broken, definite pull back might be expected in the later session.Opening is interesting today.If nifty goes below 4740, then danger is there of more fall and if 4740 is protected, upmove till 4900 is possible today.Might be a play between 4740-4900 today.Overall very very volatile day and one has to be very carefull in booking profits whenver he gets.

Stock watch for the day:

Reliance Energy (1296): Watch this stock on raise and if it doesn't cross 1325, short it for target 1275-1260