Intraday call performance 09/07/08

Good day for market today

Nifty opened high near the resistance levels of 4115 straight and then was very cautious-trading in a narrow range for most part of the day not moving anywhere ahead of nuclear deal signing and then in the late afternoon buying came in and lifted the market sentiments and nifty zoomed to make a high of 4169 and closed around that level in bullish mode due to crude oil prices cooling off and positive global cues and today's market movers were JP Associates, Reliance Infrastructure, Tata Motors, HDFC Bank, DLF, BHEL, L&T, TCS etc.

Following calls were given in yahoo messenger for clients:

Decent profits for clients today

Short Nifty Futures around 4090 with stop 4115 and it made 4050

Short ICICI Bank around 633 with stop 641 for target 616 and it made 621.8 short of 5 points and then altered stop to 633 and stop loss got hit

Short Nalco around 331 with stop 333.5 and the stop loss hit

Short Maruti around 590 with stop 598 for target 575 and it made 578

Buy ONGC at 873 with stop 865 for target 890 and it made 887

Buy SBI at 1230 with stop 1218 for target 1245 and it made exact 1245

Intraday call performance 09/07/08

Big day of nuclear signing today

Much awaited nuclear signing will bring in volatility in the market today and all dips should be used to buy until 3850 is saved and nifty above 4000 may directly test 4115 on upper side.All global factors are also positive and only concern is our political situation and if the government comes out with numbers, we are in for a market blast in coming day's.Moreover if the nuclear deal gets through, then all power stocks will be binifitted.Stocks like NTPC, Reliance Energy, Crompten Greeves, HCC, L&T, BHEL are all set to move up with this positive news for them.Crude prices tumbled $5.33 to settle at $136.04 a barrel on the New York Mercantile Exchange, bringing oil's two-day drop to more than $9.The Dow rose 152.25 to 11,383.21.Gold, silver, copper, corn and most other agriculture futures sank as oil fell. A rise in the dollar rose against other major currencies also made commodities less expensive.The Federal Reserve will issue new rules next week aimed at protecting future homebuyers from dubious lending practices, its most sweeping response to a housing crisis that has propelled foreclosures to record highs.Overall it's a buy on dips today for indian market.

Stock watch for the day:

Today's calls only for clients