Volatile day of market ............!!
It was a very volatile day of tarding with movements on both sides and traders were totally confused when the market was showing volatility in the alst hour of trading as it was making moves on both sides.Though market openingw as well above yestedray's close, it couldn't cross the first resistance at 4545 and started sliding down slowly and in the later afternoon sldie becaome severe breaking all the inbetween supports and closing around 4460.
Stock watch for the day:
RPL : This was given a short call with stop loss 181 for lower target 164 and it made a low of 165 and high was just 174
Following calls were given in yahoo messenger for clients:
Buy Nifty Futures around 4430 with stop 4405 and it made 4455 and told to cover position when it came down to 4425
Buy Nifty Futures around 4360 with stop 4355 and it made 4393
Buy Dr Reddy's Lab around 698 with stop 694 and it made 710
Buy Tisco around 820 with stop 816 and it made 827 and then hit the stop loss
Buy RCom at around 540 with stop 538 and it made just 543 and then hit the smal stop loss
Short Bombay Dyeing around 636 with stop 641 and it made 628
Tuesday, June 10, 2008
intraday call performance 10/06/08
Market Outlook 10/06/08
Time to pick up quality stocks..!
Atlast nifty broke 4440 strong support and it seemed like operators broke that support purposely to make a new low support and will be interesting to see today's moves now.For today, if nifty moves above 4545, it will test 4590 first and then testing of 4635 final strong support is on.But higher level will exert pressure for sure and more interesting part is to see the extent of pull back rally.Nifty remain below 4525 sentiments will remain weak and on downside 4575 will act as support and break below 4440 will be another big support to watch.Time for buying quality stocks at dips now and lots of money are waiting on the sidelines to be dumped in the stock market and there may be another big upmove shortly.Moreover Oil prices closed Monday at $134.35 a barrel, down from last week's high of $139.12 a barrel and if slides further will be good for the market.
Stock watch for the day:
RPL (171)-Short this with stop loss 181 for target 168-164.If moves above 182, dont short.
