Wednesday, April 16, 2008

Intraday call performance 16/04/08

Today the gap filling exercise was done perfectly as nifty faced resistance at 4950 range as expecetd and then sliding down it made a low of 4874 and closed around 4900 again placing market in interesting position now.

Stock watch for the day:

L&T: This was given a short call only below 2840 and it opened and crossed 2840 in no time..hence call not executed

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 4925 with stop 4905 and it made just 4934 and then hit the stop loss

Buy Nifty Futures around 4900 with stop 4880 and it made 4938

Buy Nifty Futures around 4900 with stop 4885 and it made 4936

Buy Bajaj Hindustan around 218 with stop 214 and it made 220.5 and then hit the stop loss

Buy RCom around 522 with stop 515 and it made 534 and first target given was 535

Buy ON-Mobile around 660 with stop 649 and it zoomed to 727 and told to come out with huge profits

Short ICICI Bank around 815 with stop 816.5 small stop loss and it made 809 and then gave cover order at 815

Short Suzlon around 292 with stop 293.5 and it made just 287.5

Short Bank of India around 306 with stop 307.2 and it made 299 and the first taregt was 298

Market Outlook 16/04/08

Market witnessed a terrific rally once it crossed 4840 mark and now one more strong resistance is in the range of 4965-4975 and if doesn't cross this resistance market will come down and if crosses this resistance, then it will zoom to 5050 range.For today, there might be some gap filling exercise because of sudden raise in the market.So, above 4900, nifty might look into 4960-4975 resitance and if fails to cross, downside major support is at 4840 only.

Stock watch for the day:

L&T (2806): Short with stop loss 2840 for lower target 2760 range.If moves above 2840, don't go for short

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