Tuesday, April 1, 2008

Intraday call performance 01/04/08

As told here, nifty faced first resistance around 4800 and then straight away broke 4740 support and made a low of 4628 and closed around 4740 again.Overall a very volatile day of trading today.

Stock watch for the day:

PFC: This was given a sell call with stop loss 173 for target 156 and the stock made a high of 166 and low of 156

Following calls were given in yahoo messenger for clients:

Overall a good trading day for all my clients

Short Nifty Futures around 4785 with stop 4800 and when it made 4650, told to cover

Short Nalco around 458 with stop 460 and the stock made a low of 441

Short Sobha Developers around 608 with stop 610 and the stock made a low of 595

Buy Renuka Sugars around 940 with stop 925 and when the stock made 970, and told to come out

Short India Info around 765 with stop 771 and the stock made 755

Market Outlook 01/04/08

After all the drama yesterday, nifty may again move above 4740 resistance and will try to hit 4800 on the upper side, where it will face first resistance and selling might also come there and if nifty able to cross this resistance it might try for 4850 very very strong resistance area where selling might come heavily.For today, stay long if nifty stays above 4740 and short if falls below 4740.Again an interesting day ahead and today's closing will be very important.It will be better for the market if nifty slides and test 4500-4600 level again in coming day's before making a big upmove.

Stock watch for the day:

PFC (162):
Short this stock at high with stop loss at 173 for targets 161-156.

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