Intraday call performance 25/06/08

Huge buying at lower levels

Market started weak and as expected and told here, buying came in and gained power later on crossing even 4220 and made high around my resistance level given at 4260.Market was very volatile today as expected to be.Today evening's nuclear deal decision also will hold more importance now along with expiry volatility of tomorrow.Heavy manipulation in Reliance stocks also was clearly visible today and as told to my clients early morning that nifty target 4300+ in this expiry is almost on the right path now.

Following calls were given in yahoo messenger for clients:

Good day of decent profits for all my clients

Short Nifty Futures around 4185 with stop 4195 and it made 4157

Short Nifty Futures now at 4210 with small stop 4222 and stop loss hit

Short Punjab Lloyd around 232 with stop 235.2 and it made just 228 and hit the stop loss

Short Renuka Sugars around 106 with stop 107.2 for target 102 and it made 103.3 and then hit the small stop loss

Short Reliance Capital around 980 with stop 991 for 955 and it made 958

Short RCom at 480 with stop 486 for target 468 and it made just 473

Short ICICI Bank around 705 with stop 712 for target 685 and it made 688

Short ONGC around 874 with stop 880 for target 855 and it made 856

Market Outlook 25/06/08

Market to witness volatile day of trading today

Yesterday market picked up exactly from where it left and in the later part lost heavily breaking important support again at 4220 and made a low of 4156 near to support at 4150 and then closed around 4200. For today, there might be panic downside opening also and if nifty opens around 4100-4150, don't short blidly as first 30 minutes of trading is crucial and today all news based moves may be seen also.Crude oil prices rose 26 cents to settle at $137.00 a barrel on the New York Mercantile Exchange yesterday. RBI hikes REPO RATE by 50 BPS and CRR by 50 basis points and more important nuclear deal issue may bring in severe volatility in the market today.So, one should be very carefull in booking profits whenever it comes.If nifty breaks above 4220 it will move towards 4260 where heavy selling is expected again and below 4150, sentiments will turn out very weak and nifty may break to 4100 and next 4045 support area.

Stock watch for the day:

Today's calls only for clients