Intraday call performance 27/06/08

Total panic in the market....

Global weekness made nifty open below very important support of 4190 and once it broke 4190, it was total panic in the market though nifty recoverd a bit in the afternoon session, it came down heavily later on to make a low of 4119 and unless global situation improves, nifty is heading for 4000 now.In the charts, markets are oversold, but for the market to recover global cues and many negative factors like political situation is not supporting.Crude oil is the main culprit here trading at $140 and if the situation improves a bit here, nifty might again pick up.Inflation for the week ended June 14 has risen further at 11.42% as against 11.05% in earlier week and inflation may well reach 14% if crude oil doesn't improve from here.

Stock watch for the day:

RCom: This was given a sell call with stop loss 515 for target 475 and it made 465

Following calls were given in yahoo messenger for clients:

It was a terrific day of huge profits for all my clients as all calls hit huge targets today

Buy Nifty Futures around 4080 with stop 4058 and it zoomed to 4160

Buy Nifty Futures around 4100 with stop loss 4080 and it hit the stop loss

Short Hind Oil around 135 with stop loss 138.4 and it made 128

Buy Sail around 147 with stop loss 145 for target 152 and it made 150.6

Buy SBI around 1165 with stop loss 1150 for 1200 and it zoomed to 1190

Buy LITL around 307 with stop loss 304 and it made 317

Buy RCom around 465 with stop loss 460 and it made 483

Short Tisco at 780 with stop 786 and it made 736 and gave covering order

Buy Tisco at 722 with stop 717 and it made 735

Market Outlook 27/06/08

Market facing tougher situations....

Though expiry got over yesterday and made nifty close above 4300 , it was just a roll over effect and real trading will start from today again and now all the global cues are negative and overthat, nifty is facing a very very strong hurdle at 4350-4370 range which holds very very important for now and trading below this level nifty will not be stable for sure.All Asia, Europe and U.S markets are trading in red and its just a matter of time now for indian market also react to this.Oil futures shot past $140 after the head of OPEC President Chakib Khelil was quoted as telling a French television station that oil could rise to between $150 and $170 per barrel this summer before pulling back later in the year and Libya said it may cut oil production.The dollar was mixed against other major currencies, while the price of gold jumped.Sweet crude went as high as $140.39 and to a record settlement of $139.64 on the New York Mercantile Exchange.The Dow dropped 358.41 points, more than 3 % to close at 11,453.42 - its lowest finish since Sept. 11, 2006. For today, if nifty moves above 4330 it will test 4350 and further upside is difficult and even if gets past 4350 also 4370 hurdle is major one for today and break below 4300, nifty will have support at 4260 first and then 4220 and lastly 4190 and if breaks that-TOTAL PANIC IN THE MARKET. If market opens gap down, be cautious at lower support area as nifty might pull up again and if there is gap up opening, definite selling will come today at higher level.Watch the levels of supports and resistances today.Market doesn't seem to be settling down fast because of the global factors and also because of indian political situation.Inflation figures are expected to be high again and it may also effect in recovery.

Stock watch for the day:

RCom (496): Short this stock at higher range with stop loss 515.5 for lower target 485 and 475