Monday, April 7, 2008

Intraday call performance 07/04/08

Today market started on bullsih note breaking all the resistances in between and made a high of 4798 and closed above 4740 showing strength in the market now.Next big news wil be CRR hike and banking stocks will come into main stream at that time.

Stock watch for the day:

Tisco: This was given a sell call with stop 685 for target 645 and stock made a high of exact 685 and low of 645

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 4720 with stop 4695 and it made 4785 and gave cover order

Short Punjab Lloyd around 307 with stop 310 and it made just 306 and when it went up again, gave cover order at 307.5

Short Sesa Goa around 2790 with stop 2825 and the stock made 2770 and then told to cover around 2785

Short Sesa Goa around 2835 with stop 2853 and the stock made 2770

Short Hindustan Construction around 119.5 with stop 122 and the stock made 114

Short J.P Associates around 230 with stop 232.5 and the stock made 223

Short Bajaj Hindustan around 187 with stop 189 and the stock made 184 and then went up to hit the stop loss

Short Reliance at 2415 with small stop at 2425 and stock hit the stop loss

Market Outlook 07/04/08

4740 WILL BE STRONG SUPPORT ON DOWNSIDE AND IF NOT BROKEN, WE MAY BE IN FOR 800-1000 POINTS UPMOVE ...........
Every raise is exerting pressure in the market and nifty has also closed well below the strong support which it had before 4740-which will act as resistance now onwards.On friday, indian market crashed due to higher inflation and expected hike in CRR.For today, nifty above 4650 will face first strong resistance around 4700 and if crosses 4700, then 4740 will be very strong resistance as said and higher level selling will come heavily again.Below 4600 nifty might slide down to test 4565 support.

Stock watch for the day:

TISCO (661): Short this stock at higher levels with stop loss at 685 for lower target 650-645

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