Intraday call performance 03/04/08

Today it was a crazy market and as told in here, first initial raise to 4800 and fall again towards 4740 levels and then recovery past 4800 and tested strong rsesitance at 4840 and down again to test lower support of 4740 and at the last hour again zoomed to 4800 level and closed around 4770 range.

Stock watch for the day:

Suzlon: This was given a sell call with stop loss 300 for taregt 275 and it made a high of 286 and low of 268

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 4790 with stop 4815 and it made 4765

Buy Nifty Futures around 4760 with stop 4738 and it made 4800

Short BHEL around 1860 with stop 1875 and it made 1848a nd then zoomed to 1876 and then crashed heavily to 1695..sheer bad luck

Short Reliance Capital around 1200-1210 with stop 1213and it just made 1194 and then small stop hit

Short Sesa Goa around 2830 with stop 2850 and it made just 2820 and then zoomed to 2854 and crashed to 2750..sheer bad luck

Short India Info around 757 with stop 763 and it amde 752 and then hit stop loss

Buy ICICI Bank around 790 with stop 784 and it made 797

Buy Reliance Capital around 1230 with stop 1220 and the stock 1238 and then stop hit

Market Outlook 03/04/08

As you can see, market is exerting pressure at every raise and yesterday was not an exception here.Now, market again standing at the edge.If market starts sliding below 4735, there again weakness will come for sure and if nifty trades above 4735,chances of hitting 4800 is valid here.If nifty strats trading above 4800, then strong resistance will be around 4865 range.There maybe selling again at higher levels for sure and if market opens above 4740 also, chances of testing 4740 is very strong today.Still there are lots of uncertainties in the market and among traders.

Stock watch for the day:

Suzlon (285) : Short this stock on raise with stop loss 300 for targets 280-275