Intraday call performance 20/05/08

As expecetd, nifty faceed selling at higher levels and couldn't cross 5190 hurdle and straight away came down below 5100 and closing was also weak now.Expiry things are setting up now and can be claerlys een by the market movements.

Stock watch for the day:

RCom: This was given a buy call with stop loss 588 for target 615 and it made a low of 590 and high of 610

Following calls were given in yahoo messenger for clients:

It was a good trading day for clients

Buy Nifty Futures at 5112 with small stop at 5100 and it could make only 5130

Buy Nifty Futures around 5180 with stop 5160 for target 5100 and it made 5095

Buy ICICI Bank around 929 with stop 924 and it made 932 and when it came down, told to cover at 929

Buy RCom at 592 with stop 588 and it made 608

Short Punjab Lloyd arround 353 with stop 356.5 and it made 337

Short Tisco around 907 with stop 910.5 and it made 887

Buy Bombay Dyeing around 972 stop 966 and when it amde 984, gave cover order

Market Outlook 20/05/08

After 3 day's holiday's market will open today and final test will be 5190 and above that market will be very bullish now and if nifty fails to cross 5190, there might be some profit booking today.World market clues are also positive inspite of raising oil and indian market also expected to go up, but caution is required to see how it reacts at higher levels as profit booking also might come at higher levels.For today, if nifty gets past 5190, it will move towards 5220-5240 level where selling might come and if nifty failes to break 5190, 5100 will be tested again today.

Stock watch for the day:

RCom: Buy this stock in small dips with stop loss 588 for target 615-625