Thursday, June 5, 2008

Intraday Call Performance 05/06/08




Indian market showed smart recovery in the late afternoon by positive global cues bouncing back from exact supports given here at 4535 and closing was impressive and nifty almost tested 4700 in last hour of trading and tomorrow's trading wil be interesting as if nifty continues recovery above 4700, then it may well test 4740 and then final big resistance at 4800.Being a week end, market placed at interesting stage now.

Following calls were given in yahoo messenger for clients:


Clients happy with big profits today also...

Short Nifty Futures around 4610 with stop 4630 and it made 4570

Short Nifty Futures at 5595 with stop 5620 and it made 4575

Short Axis Bank around 750 with stop 761 and it made 725

Short RCom around 540 with stop 546.5 and it made 520

Short Tisco around 812 with stop 816.5 and it made just 806 and then stop loss hit

Short Century Textiles at 620 now with stop 625 for target 605 and it made 606

Short Tisco around 829 with stop 837 for 805 and it made 806

Short Bombay Dyeing at around 770 with stop 773.5 and when it made 763, told to cover the position in profit

Market Outlook 05/06/08


Market crashed yesterday and today there might be slight short covering coming up and nifty will face hurdle at 4640 first and further buying will come only if nifty breaks 4640 and then might move towards 4700 big resistance.Higher levels will exert pressure again for sure.Nifty below 4600 will go to 4530 support for today and if broken, more panic on cards.Fuel hike spoiled the market sentiments yesterday and now because of this price hike inflation is expected to shhot up again still higher and bad for the market again.But, in whatever situation watch out big support at 4440 and if held, we have big upmove coming which will take nifty towards 5000 again and then 5300.This fall is also bringing in lots of value based stock picks like,Reliance, SBI, RCOM.....list goes on...which are at attractive prices now.

Stock watch for the day:

Todays call only for clients

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