Intraday call performance 08/04/08

As it was clearly told here that failure to cross first hurdle of 4800 will be testing of 4740 and once it broke 4740, it was allround weekness in nifty and till the end of the day nifty never crossed 4740 resistance and at the end nifty closed just above 4700.Lots of uncertainty still prevailing in the market.

Stock watch for the day:

ICICI BANK: This was given a buy call only above 798 for target 835 and opening was well below 798 and then later on when it crossed 798, it zoomed to hit 830 as high.

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 4690 with stop 4670 and it made 4728

Buy ICICI Bank around 796 with stop loss 794 and it made 799 and then hit the small stop loss

Buy JP Associates around 224 with stop 221 and it made 227.5 and the first target given was 228

Buy ICICI Bank again around 793 with stop loss 786.5 and the stock made exact first target at 829

Buy HDIL around 655 with stop loss 652 and it made 863

Buy ICICI Bank around 813 now with stop loss 811 and small stop loss hit

Buy Renuka Sugars at 988 with stop 978 and the stock made 1005

Buy Reliance Energy around 1145 with stop 1136 and the stock made 1163

Market Outlook 08/04/08

Yesterday market was very bullish breaking all resistances in between and made a high of 4798 and for today 4835 will be first and strong resiostance to crossover.If nifty failes near 4800 or at 4835, it will slide down to test 4735 again and if breaks 4735 market will again turn weak.So, today watch out for 4835 tough resistance.

Stock watch for the day:

ICICI Bank (811): Watch this stock and if support 798 is not broken will move towards 835-840 today