Intraday call performance 24/04/08

Morning session was very boring as participation was less and in the last hour some action came in on the lower side and nifty again tested 4990 support, but couldn't break it and closed around 5000.Strangely even on this expiry day volatility was not seen much.

Stock watch for the day:

ICICI Bank: This was given a short call below 878 for taregt 850 and in the morning it fell to 867 from 878 and later it crossed 878 and made a high of 889

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 5025 with stop 5000 and it made 5052

Short Bajaj Hind around 242 with stop loss 245.5 and it made 229 low...superb profit

Buy Tisco at 790 with stop 785 for target 803 and it could only make 798-falling short of target by 5 points.

Short ICICI Bank around 874 with stop 878.5 and it made just 871 and then hit the small stop loss

Short IDFC around 171 with stop 173.5 and it made a low of 164....good profit

Short EduComp around 4030 with stop 4040 and it made 3950....good profit

Short ICICI at 875 with stop 881 and it again made 871 and when it came up, told to cover the psoition at 876

Market Outlook 24/04/08

Expiry of April month contract may bring in volatility today and hence caution is required in intraday trading. Although nifty has closed around 5020, it is still positive above 5000 and major resistance is in the range of 5075 and once it crosses that, it will fire towards 5125 range.If nifty breaks 5000, it may test 4990 support and then 4950 strong support.

Stock watch for the day:

ICICI BANK (865): Watch this stock on raise and if unable to cross 878, short it for target 850-840