Intraday call performance 09/06/08

As expected, market carshed in the opening bell and made a low of 5411 breaking its strongest support as given here at 4440 and till mid afternoon was trading in too deep red and then recovery came which pushed nifty above 4500 and even closed above that and tomorrow might be interesting to see where it is heading as indications are there to target 5600-5700 on upperside and then selling might emerge again.

Following calls were given in yahoo messenger for clients:

Though calls were given late today because of the market volatility, it gave good profits

Short Nifty Futures at around 4500 with stop 4535 and it made 4450

Short Nifty Futures at around 4500 with stop 4535 and told to cover position at 4445

Buy Bombay Dyeing at around 670 with stop 664 and it made 687

Buy Tisco around 803 with stop 798 and it made 828

Short DrReddy at around 701 with stop 703 and it made 697 and then hit the small stop loss

Short Tisco around 825 with stop 828 and it hit the small stop loss

Market Outlook 09/06/08

Friday DOW crashed, Crude is all time high at $138 a barrel and still expected to reach $150 within a week.So, suddenly all bad news are coming together and for today, indian market also expected to open low and as is aid, 4440 still holds the key and if this support is held it's good and if this support is broken, then there may be severe panic in the market.I am expecting slight pull back around 4440 support area.Opening and first 30 minutes trading is very important today and don't be long in any stock if 4440 gets broken (possibility very slim).On upper side, 4635 will be very very strong resistance for today.Play between 4440-4635 and any break of these levels will be deciding the future moves.

Stock watch for the day:

Todays call only for clients