Intraday call performance 26/05/08

As told here, nifty took exact support around 4860 and then slowly moved up above 4900 and even then market doesn't look very comfortable around these levels as nifty still closed well below 4900.

Following calls were given in yahoo messenger for clients:

Superb profits for all my clients today

Short Nifty Futures around 4915 stop loss 4940 made 4874 and gave cover order

Buy Tata Elexi around 193 with stop loss 190 and it made 208

Short Bank of India around 320 with stop loss 325 and it made jusr 317 and then hit the stop loss

Short LITL around 500 with stop 506 and it made 497 and then hit stop loss

Short Cairns around 312 with stop 316 and it made 300

Short Bombay Dyeing around 973 with stop 976 and it made 922

Short Axis Bank around 782 stop 786 and it made 760

Market Outlook 26/05/08

After breaking 5000, nifty directly made a low of 4940 and now near to big support at 4900 and this support will hold some meaning only if there is no gap down opening and if there is gap down opening below 4900, then 4860 will be very big support and there maybe heavy buying also later on if this support is not broken down and if bears hold on to low levels till the end of the day it's bad for the market.There seems to be some manipulation going on for expiry this week.For intraday, below 4900 support is only at 4860, which has be watched out and above 4900, nifty will test 4970 again and if breaks that level then we might see 5025 again which will act as big resistance again.So, watch out for a volatile and interesting day today.

Stock watch for the day:

Todays call only for clients