Intraday call perfromance 28/05/08

As expected and told here today, nifty just make 4836 and then buying came heavily to take nifty to a high of 4927 and placed in crucial point during expiry.This pull back was expected and told you all here.

Stock watch for the day:

ITC: This was given a buy with stop loss 204 for target 217 and it zoomed to 223 intraday

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 4885 stop 4910 and it made 4845

Short Bombay Dyeing around 882 with stop 886 and it made 875 and then hit the stop loss

Short Praj Industries around 191 with stop 193.2 for 185 and it made 185.9

Short Tisco around 872 stop 876 for 860 and it made 860

Short Maharashtra Seamless around 322 with stop 325.3 and it made just 220 and then told to close position at 220.4

Short Bombay Dyeing around 878 with stop 882 and it amde just 874 and then stop hit

Market Outlook 28/05/08

Nifty again slided in the last hour and closed near to one more support at 4840 and for today buying might come from lower level and one must be cautious at lower levels.Now that only 2 day's left for expiry.So, there may be lots of volatility in the market and again closing of today is very important and also closing of tomorrow.For today, nifty above 4885, wil test 4930 and if breaks this level allround buying may come or else this level will exert pressure again and on downside, 4840 wil act as suport for today and if breaks this level, then 4800-4790 will be very strong supports to watch out for.

Stock watch for the day:

ITC (209): Buy this at lower levels with stop 204 for target 214-217 and if sldies below 204, it is not a buy