Intraday call performance 21/04/08

As expected nifty crossed 5000 and made a high of 5055 and CRR hike issue did not have much effect today.Nifty heading towards 5200-5300 now.

Stock watch for the day:

Orchid Chemicals: This was given a short call with stop loss 296 for a target of 265 and it made a high of 284 and low of 242

Following calls were given in yahoo messenger for clients:

Today was a very good day for my clients

Buy Nifty Futures around 5030 with stop 5020 and it made just 5043 and gave cover order at 5040

Short Nifty Futures around 5440 with stop 5455 and it made 5008

Buy Punjab Lloyd around 345 with stop 340 and it amde 364

Buy RCom around 535 with stop 532 and it made 563

Short State Bank of India around 1700 with stop 1711 and it made just 1690 and then hit the small stop loss

Short ON-Mobile around 707 707 with stop 712 and it amde exact my first target at 690

Short ICICI Bank around 844 with stop 851 and it amde just 840 and then hit the stop loss

Market Outlook 21/04/08

Market is in bullish trend now and now that CRR is hiked, interesting to see the impact in the begining hours.Nifty is having strong support at 4900 and if theer is lower opening today and 4900 is not taken off, strong bounce back is possible and if there is higher opening,selling might come from higher levels.But, market is looking bullish and only news is CRR hike and to see till what extent it can effect the market.Nifty spot has strong resistance at 5035 and if not crossed will fall from higher leevls and if crosses 5100 is also possible today.If nifty falls below 4900 only it will lose strength

Stock watch for the day:

Orchid Chemicals (284):Watch this stock on raise and if fails to clear 296, short it for target 275-265