Intraday Call performance 07/07/08

Volatile market and news based moves continue....

Market started on a strong note and even made high above 4100, but could not cross my resistance level told here at 4115 and started sliding down and even tested 4000 strong support but never broke it and closed around 4000 again.Trading was volatile today and though selling came to hevaily in last hour of trading.Stocks like SBI, ACC were al trading on positive sides today and RCom was trading negative along with BHEL and others. News based moves are seen in the market and next 2 day's of trading will see lots of volatility now.

Following calls were given in yahoo messenger for clients:

Clients saw one more good profitable trading day today

Short Nifty Futures around 4070 with stop 4085 and when it made 4015, gave covering order

Short Bombay Dyeing around 568 with stop 574 and it made 548

Short LITL around 292 with stop 295.5 and it made just 288 and it hit the small stop loss

Short Hero Honda at 690 with stop 695 for 680 and it made exact 680

Buy Adlabs at 405 with stop 399 for targets 425-435 and it made 419

Short JSW Steel around 815 with stop 822 made 812 and then gave cover call at 816

Market Outlook 07/07/08

The future is not something we enter. The future is something we create....

Markets have come up from low's and moving upwards now and if not political crisis, this could have been good rally towards 4500 for sure.But now, one must also consider the political actvities running around -as much attention seems to be on politics rather than inflation or crude figures.Oil has gone up in record figures and in coming times, it will slide down and so does the inflation figures and finally market will be in total bull hands as it is in bear hands now.Mulayam is also giving confusing statements day by day and even Left parties are delaying things and it's all confusing situations.Unless this political things come down, volatility will go on continuing.Dow was closed for 2 day's and oil is near to $150 now.For today,nifty above 4000 wil try for first big resistance around 4100-4115 area and if crosses this then all chances of testing 4200 is high and if fails to cross first resistance, then selling might emerge again.Downside, below 4000 nifty will find strong support at 3965.

Stock watch for the day:

Today's calls only for clients