Thursday, May 8, 2008

Intraday call performance 08/05/08

Nifty finally broke 5100, but couldn't break 5050 support with boring moves most part of the day and closed just around 5100 again.Tomorrow being last day of the week, it's interesting to see further market movements now.

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 5085 with stop 5070 and it made 5111

Buy J.P.Associates around 266 stop 263.5 and it could just make 270.6

Buy Patni around 278 with stop 276 and it made just 279.5 and then the hit small stop loss

Buy Bajaj Hindustan around 229 with stop 224 and it made 237

Short Orchid around 242 with stop 245.5 and it made 240.3

Buy Cairns around 278 with stop 275.5 and it made just 283.5

Market Outlook 08/05/08

Nifty is still saving 5100 and today is an important day of trading as far as the further trend to be decided.Today's inflation figures also might effect the market to some extent.Nifty is expected to test 5100 support again today and if breaks this support level then 5050 support testing is on cards.Above 5100 nifty is moving towards first resistance at 5165 and if crosses that 5185 is again a very tough resistance to cross today.

Stock watch for the day:

Today's call only for clients

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