Intraday call performance 02/05/08

As expected and told here, Nifty opened gap up and faced resistance around 5300 and came down and closed very strong at 5228 and if there is no bad news coming in next 2 day's market will zoom again on monday.

Stock watch for the day:

Praj Industries: This was given a buy call with stop loss 190 for the target 212 and the stock reached the target making high of 217 and the low recorded was 200

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 5230 with stop 5210 and when it made 5240, told to cover position

Short Nifty Futures around 5260 with stop 5280 and when it made 5225, told to cover the position

Buy Nifty Futures around 5220 with stop 5200 and it made 5249 and target given was 5250

Short MTNL around 114 with stop 115.8 for target 110 and the stock made 111.4

Buy LITL around 533 with stop 527 for first target 546 and it made 545

Short LITL around 530 with stop 533.5 for first target 515 and told to come out at 527

Short Bombay Dyeing around 1035 with stop 1046 and it made 1021 and then hit the stop loss

Market Outlook 02/05/08

As told on wednesday that indian market is going to take clue from world market today, nifty will go up and there might be a big gap up opening also.Nifty above 5190 will directly test 5245 and then straight test of 5315 is also possible.If nifty remains below 5190, it will remain weak (but possiblity of this is very remote).It is a bull market today above 5190 and just watch the bullish moves.There might be gap up opening today..watch out...!

Stock watch for the day:

Praj Industries (198): Buy this stock with stop loss 190 for target 206-212.