Intraday Call performance 06/06/08

Market as expected started positive trading above 4700 and later on inflation figures spoiled the party as expected and told here also and nifty broke its strong support at 4635 and came down to make a low of 4614 and closed just around supports again making it interesting on monday when the market opens.

Stock watch for the day:

Cairns: This was given a short call if fails to break 273 and it opened above that in the morning itself because of some positive news and hence position not taken

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 4645 with stop 4620 and when it made 4685, gave cover order

Short Nifty Futures around 4710 with stop 4735 and when it made 4645, told to come out

Buy HDIL around 644 with stop 638 and it made 648 and then came down to hit the stop loss

Buy TISCO around 845 with stop 837 and it made just 847 and then hit the stop loss

Buy Bombay Dyeing around 772 with stop 768 and it made 780 and then hit smal stop loss

Short Century Textiles around 630 with stop 636 and it made 599

Short Bombay dyeing around 785 with stop 796 and the stock came down carshing and todl to come out at 745

Short Cairns at 286 with stop 288 and made just 285a nd small stop hit

Short HDIL at 642 with smll stop loss at 644 and it made 638 and then went up to hit small stop loss

Market Outlook 06/06/08

These day's everyday there seems to have some news to the market and today the expectation is on inflation rate and is also expected higher than before and is bad for the market.Yesterday nifty pulled up exactly at support level of 4535 and though Sentiments are looking very good today, inflation data release is a concern.If nifty moves above 4700 it will hit 4740 first and then tough resistance at 4785-4800 range.Higher levels will exert pressure again and on lower side, 4630 is support for today and if breaks that, then may go to 4570 support.Late afternoon session selling pressure might come due to inflation data release and is definitely expected higher this time.

Stock watch for the day:

Cirns: Watch this stock at higher levels and if doesn't cross 273, just short it for target 258-254