Intraday Call performance 27/05/08

Nifty as expected took support at 4860 in the morning session and went past 4900 to make a high of 4932 and faced selling at this higher levels and started sliding heavily in the late afternoon session and made low of 4846 thus protecting one more support given at 4840.Strangely the trading volume is low and also sliding is also very slow these day's.This week expiry will bring in lots of volatility now.

Stock watch for the day:

Tisco:This was given a short call below 885 for target 860 and today in the morning session, it made a high of 889 and then once started sliding below 885, it hit 853 low.

Following calls were given in yahoo messenger for clients:

Once again a big profit day for all my clients.!

Buy Nifty Futures at 4900 with stop 4880 and when it made 4915, told to cover position

Short Nifty Futures around 4920 with stop 4935 and when it made 4865, told to cover the position

Short Tisco at 882 stop 885.2 and it made 853

Short Bombay Dyeing around 942 stop 946 and it made 875

Short Bank of India around 316 stop 320 and it made 302

Short Tata Elexi around 203 stop 205 and it made 197

Market Outlook 27/05/08

Market is slowly breaking down and yesterday nifty as told did take support at 4860 and moved above 4900 also, but last hour selling bought it down and nifty had to close around that support and for today, break of 4860 will take to 4840 and then 4790 is the strong support on downside.Above 4860, nifty will again try for 4900 first and then 4920 where heavy selling might emerge again.Due to expiry, be carefull in short positions as market may rebounce any time.Till expiry, market movements will be on operators hand now.Interestingly, trading volumes are also low compared to previous trading session and looks like they are definitely setting up things for big expiry

Stock watch for the day:

Tisco (874): Watch this stock at higher levels and if not able to cross 885, short it for target 860-845.