Intraday call performance 08/07/08

Market closing in cautious note after Left withdrawal announcement and ahead of nuclear deal signing

It was selling at opening bell today and nifty made a low of 3896 and high recorded waas 4028.Left parties finally announed they are withdrawing from the government today and market even after getting this news was not going down much and instead moved on the upper side crossing 4000 and closing around 4000 again.Volatility keep continuing in the market because of all these political news.Tomorrow is the big day of nulclear deal signing and if this gets through smoothly, again there will be buying from low's tomorrow.Better to adopt wait and watch policy now.Today selling was seen in oil refinery, technology, telecom, private banking, realty, FMCG, select power and auto stocks.Asian and European markets have collapsed like a pack of cards on account of renewed credit concerns in US and UK

Stock watch for the day:

Tata Power : This was given a short call with stop loss 1130 for targett 1045 and it made 1000 low

Following calls were given in yahoo messenger for clients:

Clients has a terrific day today with huge profits

Buy Nifty Futures around 3840 with stop 3820 and it made 3885 and gave cover order

Buy Nifty Futures around 3875 with stop 3860 and it made 3910 and gave cover order

Buy JSW Steel around 800 with stop 795 and it made just 806 and then stop loss hit

Short Reliance Industries around 1960 with stop 1975 for 1930 and it made exact 1930 ....good profit

Buy Adlabs around 377 with stop 372 and it made 398 ....huge profit

Buy India Info at around 595 with stop 585 and it made 624....huge profit

Buy Reliance Capital around 988 with stop 982 and when it made 1043, told to cover position ....huge profit

Buy RCom at 415 with stop 411 and when it made 420, told to cover position

Short Adlabs at 404 with stop 406.2 and it made just 401 and then small stop loss hit

Short Reliance Industries around 1980 with stop 1995 and when it made 1965, told to cover position

Market outlook 08/07/08

Volatile market for next 2 day's....!!

Though market opened strong yesterday, it failed to cross the first hurdle at 4115 and tumbled.Moreover selling in reliance industries in the last hour brought the index down at the end closing near 4000 again.Negative news keep coming in which is not letting market move much and these day's as i said, market movers are "NEWS".Tomorrow is again a big day of nuclear deal signing and lots of volatility might be seen in next 2-3 day's for sure. MTN deal with RCom will be decided mostly today and there might be some moves on RCom on this news also.Market is definitely oversold and will move strongly on upperside once this clear picture emerges in political side.The Dow fell 56.58 to 11,231.96. Light, sweet crude fell $3.92 to close at $141.37 a barrel on the New York Mercantile Exchange, after falling by more than $5 a barrel at times is also a good sign for the market and if the inflation also comes down below 10 %, it will be a major plus for the market and after all these bad news flow all these day's we may be in with lots of positives coming in the coming day's....! For today, if nifty breaks 4045 it will again retest 4115 resistance and failure to break will invite selling again and on downside, if nifty breaks 4000 strong support, it will retest 3960 support again.

Stock watch for the day:

Tata Power (1085): Short this stock on raise with stop loss 1130 for targets 1060-1045