Intraday Call performance 14/05/08

Even though nifty opened low, it recovered in the last hour of trading and closed above 5000 and tomorrow will be interesting to see whether it can test 5100 or come down below 5000 again.It seems like artificial pull up.

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 4985 with stop 5000 for 4950 and it made 4952

Short Nifty Futures around 5010 with stop 5025 and it made just 5000 and then hit the small stop loss

Short Cairns around 285 with stop 287 and it made 280 and then hit the small stop loss

Short Reliance industries around 2530 with stop 2542 and it made 2511

Short Bharti around 833 with stop 841 and it made just 830 and then hit the stop loss

Short Praj Indiustries at 197 with stop 198.5 and it made 195.5 and then hit the small stop loss

Market Outlook 14/05/08

So, market crashed after making initial highs and today also it might be the same story as the market sentiments are still not good and weak as the markets are continuously facing selling pressure at higher levels and one may see testing of 4900 today and break will take it to 4860.Above 4950, nifty might test 5000 and if crosses then 5030 will be strong resistance for today.Market is not at all stable these days and also slow in going down and it is better if it breaks down to 4700 fast to get a decent entry again.

Stock watch for the day:

Todays call only for clients