Intraday Call performance 03/07/08

Market struggling to find the base for long term now..

Market opened weak due to surge in crude oil and negative global cues and nifty even broke 3900 in the early morning session itself and made a low of 3874 -a whoping 223 points down from high.yesterday it was 260 points jump from low and today 223 points down from high..! Though nifty made a violent pullback in the late afternoon, it couldn't sustain at higher levels and collapsed in the last hour again.Market is struggling to find the base for long term now and it is obvious that 3600-3800 range will be the most obvious base for long term.Today, stocks like Tata Steel, Reliance capital, DLF, Reliance Industries were all big losers.

Following calls were given in yahoo messenger for clients:

Clients enjoyed super duper profits again in this voaltile panic market conditions..!!

Buy Nifty Futures around 3885 with stop 3860 and it made 3922

Buy Reliance Capital around 890 with stop 878 and it made 904 and then came back to hit stop

Buy RCom around 394 with stop 389 and it made 405....good profit

Buy JSW Steel around 715 with stop 700 and it made 756....super profit

Buy LITL around 248 with stop 242 and it made 262....super profit

Buy Reliance Capital around 875 with stop 864 and it made 915....super profit

Market Outlook 03/07/08

Will the market sustain its momentum..!

It was huge buying from lower levels yesterday and that made nifty zoom to 4108 from 3848 (whopping 260 points) in a single day.Higher level selling is expected today and it's difficult to maintain the same momentum today also.Crude oil hit a record $144.32 a barrel in after-hours trading after reaching a record settlement of $143.57, an advance of $2.60 on the New York Mercantile Exchange as the government reported a bigger-than-expected drop in U.S. supplies and as investors worried about tensions in the Middle East.The Dow fell 166.75, or 1.46 percent, to 11,215.51, the lowest close since August 2006.Shares of General Motors Corp. plunged Wednesday to close below $10 for the first time in more than half a century, on worries about the company's cash needs and speculation about a possible bankruptcy protection filing down the road.So, still so much of negatives are emerging, but market is almost into making the long term base around 3700-3600.For today, if nifty moves above 4110, it will first try for 4165 and failure to cross will invite heavy selling and if breaks 4165 then 4200-4220 will be very very tough resistance to cross for sure.On downside, below 4100 nifty wil again try for 4000 support zone and break of it will turn the things bearish again.

Stock watch for the day:

Today's calls only for clients