Wednesday, May 21, 2008

Intraday call performance 21/05/08

Though nifty opened weak today, it recovered later to close above 5100 and now again 5190 factor might come and nifty will be very bullish only above this level of 5190 and slowly expiry things are setting up now.It will be interesting tos ee tomorrow's market and may be Dow factor also will come into play for tomorrow's market movements.

Stock watch for the day:

Punjab Lloyd: This was given a sell call for target 334 and the stock first raeched its target at 334 and then zoomed to make a high of 355 and close at 352

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 5080 with stop 5100 and it made 5056

Short Nifty Futures around 5125 with stop 5140 and it made just 5106

Short Tisco around 902 with stop 911 for 890 and it made 889

Buy Adlabs around 716 with stop 707 and it made 734

Buy Sasken Communications at 168 stop 166 and it made 170 and then gave call at 169.5

Short RCom around 595 stop 601 and it made just 590 and then hit the small stop loss

Short Punjab Lloyd around 347 with stop 350.2 and it made just 344 and then hit the stop loss

Market Outlook 21/05/08

Nifty ended the day with bearish note and selling may also well continue today also.There may be gap down opening also today, so watch out.Nifty below 5100 will remain weak and will test 5040 downside support and if breaks this support, then only strong support is at 4970.Yesterday U.S markets also closed in red and this will also effect indian market now and next week expiry also will bring in lot of volatility here for sure.Even global cues are not positive added with raising crude problems, which is definitely a big concern now.

Stock watch for the day:

Punjab Lloyd (340): Short this stock on raise with stop loss 350 for targets 334-326

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