Intraday Call performance 26/06/08

Amidst expiry volatility market ended positive

Market was too volatile as told here and even tested strong support of 4220 by maing a low of 4230 and then expiry effect took place to take nifty above 4300, making a high of 4325 and closing above 4300 showing bullish signs and 4370 wil be the final resistance and if crosses that nifty may fire towards 4500 staright..! Indian market was trading against europian market which was trading weak.Reliance Industries took the market up today along with I.T sectors like Infosys, wipro etc.

Stock watch for the day:

NTPC: This was given a sell call with stop loss 165 for lower target 148 and stock made a high of 159.5 and low was 150

Following calls were given in yahoo messenger for clients:

Clients enjoyed huge volatility making good profits today

Short Nifty Futures around 4300 with stop 4330 and stock made only 4285 and made a low of 4255

Buy Nifty Futures around 4240 with stop 4225 and it zoomed to 4280

Short ONGC around 872 with stop 881 and it made just 863 and then stop loss hit

Short ONGC around 891 with stop 897 and it made 864....good profit

Short Hind Oil around 133 with stop 135.5 for 128 and it made 128....good profit

Buy Reliance Capital around 985 with stop 978 and it made 1004....good profit

Buy Punjab Lloyd around 232 with stop 228 for 238 and when it made 236, told to cover the position....average profit

Short RCom around 495 with stop 500.5 and it made 493 and then hit the small stop loss

Short Punjab Lloyd at 235.3 with stop 236.2 and it made 230....good profit

Market Outlook 26/06/08

Global cues positive but expiry will show volatility

Market as expected opened weak yesterday by making low just below 4100 and picked up from there to climb above 4200 to close around 4250 and now Federal Reserve left interest rates unchanged and The Dow Jones industrial average closed up 4.40, or 0.04 percent, to 11,811.83, after rising more than 100 points shortly after the Fed announcement.Crude oil fell $2.45 to $134.55 a barrel on the New York Mercantile Exchange. Gold prices also slid, while the dollar weakened against most other major currencies.Wit these positive global cues and also nuclear deal being potponed indian market may continue moving upwards and nifty above 4260 will hit 4310 first and if breaks that, then final big resistamnce will be in the range of 4350-4370 where heavy selling might come and today also being expiry day, one has to be cautious at higher levels.On downside, nifty has strong support at 4220 and if break of that may take nifty towards 4190 and then 4155 support.

Stock watch for the day:

NTPC (157): Short this stock at higher levels with stop loss 165 for trget 153-148