Intraday Call performance 12/06/08

Nifty pulling up from low's again....

Though nifty opened low and went even below 4400 to touch 4392, it never tested strong support given at 4370 and as expected and told here, it resumed its upwards journey from lows and even was able to cross 4540 strong ressitance and made a high of 4550 and closing was little below 4540 and tomorrow's inflation data might bring in little volatility again.

Stock watch for the day:

LITL: This was given a sghrit callw ith stop loss 364 for target 338 and it opened low and made a low of 325

Following calls were given in yahoo messenger for clients:

Day of very good profits....

Buy Nifty Futures around 4395 with stop 4380 and it made 4414 and then told to cover position around 4388

Short Nifty Futures around 4470 stop 4485 and it made 4450

Buy Bombay Dyeing around 699 with stop 696 and it made just 703 and then hit the small stop loss

Buy Tisco around 823 with stop 816 and the stop loss hit

Buy Tisco at 810 with stop 802 and it made 860

Buy HDIL around 544 with stop 538 and it made 555

Buy Bombay Dyeing at 700 with stop 690 and it made 754

Short LITL around 336 with stop 339 for target 332 and it made 333

Market Outlook 12/06/08

Will it be another bull trap now...!

Inaterestingly indian market was in bullish mode yesterday and even closed near to resistance level of 4540.The Reserve Bank of India (RBI) has hiked the repo rate by 0.25 percent to 7.75 percent, keeping the reverse repo rate unchanged at 6%.The Bank rate and the cash reserve ratio are left unchanged at 6% and 5% respectively.Moreover crude oil again went up to at $136.38 and dow fell 200 points yesterday.Swelling demand from China and other developing countries has boosted oil prices nearly 40 percent so far this year, pressuring major consumers like the United States that are already struggling to cope with a housing slowdown and credit crunch.Representatives of the world's biggest oil consumer and producer nations will meet in Saudi Arabia on June 22 to discuss soaring oil prices, which producer group OPEC says are due to speculation, not a lack of supply.So, all these negative news will effect to indian market also and for today, if nifty fails to cross 4540, it will be straight fall and lower side support will be at 4475 and then 4435 and lastly 4370 strongest support.Even if nifty moves above 4540, higher level selling will come strongly. Incase, if there is lower opening, pullback is possible again if 4370 is held.

Stock watch for the day:

LITL (353): Short this stock at higher levels with stop loss 364 for lower target 345-338