Intraday call performance 11/06/08

A Good Day for the Bulls....

Market was totally in bull control today as told and higher levels did exert pressure, but selling was not severe like before and yesterday's closing level was also not breached whole day..! Today's closing was still impressive as it closed just around 4540 resistance and now the real test will be 3635 level and if breaks that then 4700-4800 also might be possible or nifty might just reverse around 4635 tough resitance ahead.

Stock watch for the day:

Essar Oil:This was given a short call with stop loss 241 for target 223 and it made just 229

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 4520 with stop 4545 and it made just 4510 and then when it came up, told to cover position at 4523

Short Nifty Futures around 4520 with stop 4540 and it made a low of 4475

Short Bombay dyeing around 690 with stop 696 and it made just 683 and then hit the stop loss

Short VSNL around 453 with stop 455 and it made just 450

Short Cairns at 292 with stop 294.5 and it made 286

Short Bombay Dyeing at 690 with stop 696 and it made 683

Short Essar Oil around 234 with stop 235 and it made 229

Market Outlook 11/06/08

Till Nifty holds 4370, it's buy in dips..........

Market again plunged after nifty broke 4000 and made a low of 4370 and buying came again at the closing point taking nifty towards 4450 level and for today, if nifty gets past 4465, it will test 4500 and then 4530 a big resistance and higher level is exerting pressure continuously and will continue today also.If market opens low, buying will come till yesterday's low is held and selling might come in the later part and if market continues from yesterday, watch higher level selling.Yesterday Crude dropped $3.04 to settle at $131.31 a barrel on the New York Mercantile Exchange.The dollar rose against other major currencies, while gold prices tumbled.Still global cues are negative with japan, europe, china are all showing weekenss.In our market, from here onwards till 4370 is held it's a buy in dips.

Stock watch for the day:

Essar Oil (229): Short at higher levels with stop 242 for target 223-219