Intraday call performance 28/03/08

Nifty was playing in a narrow range for almost the whole day and in the later session, buying came in very heavily to pull up nifty to a high of 4970...! now,is this a trap wil be known in a day or two.Just watch the market moves here on.

Stock watch for the day:

RCom: This was given a short call with stop loss 551 for target 530-525 and the stock made a high of 545 and low of 528

Following calls were given in yahoo messenger for clients:

.................Clients enjoyed big profits today...................

Buy Nifty Futures around 4845 stop 4825 and it made 4885 and told to come out

Buy Cipla around 214 with stop loss 211 for target 221 and the stock made 219

Short Nalco around 466 with stop loss 471.5 and the stock made a low of 451

Buy Bajaj Hindustan around 199 with stop loss 197 and the stock made 207

Buy Reliance Capital around 1343 with stop loss 1335 and the stock made 1400

Short Reliance Capital around 1403 with stop loss 1417 and the stock went down till 1384

Market Outlook 28/03/08

At last the much expected expiry is over and nifty also closed around 4800 level and will be interesting to see nifty movements here on.Nifty has to slide again below 4740 and towards 4600 in coming days again and whether nifty breaks 4740 today or in 2-3 days is interesting as on upper side 5000 is very very tough resistance to break.For today, above 4800 nifty will move towards 4870 and then 4920 where strong resistance will come in and if nifty slides below 4800, then danger of testing 4770 first and if breaks then real possiblity of testing major support at 4740 is on cards.Today also being the last day of the week, some selling will come for sure.

Stock watch for the day:

RCom (538): Watch this stock on upper side and if not able to cross 551, short it for target 530-525