Intraday call performance 10/07/08

Markets ending flat....

Today market was trading on weaker side with little volatility and went down to make a low of 4100 and then again recovering in the last hour again to close around 4150 around the same closing level of yesterday.European markets were trading low and effect of U.S markets sell off yesterday also didn't show any effect on indian market today.Selling pressure has been seen in bank, IT, auto, FMCG, power, capital goods and oil & gas.Maruti Suzuki lost too much in today's trading.Markets are near to one more big ressitance at 4220-4245 now and will be interesting to see tomorrow's trading.

Stock watch for the day:

ICICI Bank : This was given a sellc all with stop loss 645 for target 610 and it made 593

Following calls were given in yahoo messenger for clients:

Today clients have earned huge profits in my calls

Short Nifty Futures around 4150 with stop 4165 and nifty started sliding from 4138 itself to make 4100

Buy Nifty Futures around 4085 with stop 4065 and when it made 4140, gave cover order

Short India Info around 685 with stop 692 and it made 647...HUGE PROFIT

Buy Reliance Capital around 1115 with stop 1004 and it made just 1122 then hit the stop loss

Short Maruti around 594 with stop at 600 and it made 561...HUGE PROFIT

Short ONGC around 885 with stop 892 and it made 869...GOOD PROFIT

Buy Bombay Dyeing around 573 with stop 566 and it made 605...HUGE PROFIT

Buy Adlabs around 421 with stop 415 and it made 435...HUGE PROFIT

Market Outlook 10/07/08

Always remember that the future comes one day at a time....

It was a very good day for market yesterday and now near to crucial resistance at 4220-4245 and failure to cross this will invite heavy selling again.If the market opens low, buying will emerge from lower end.Higher levels are exerting pressure and lower level invite buying and this will continue today also.Oil prices remained a concern as they finished about where they began Wednesday after jumping more than $2 earlier on reports of lower U.S. oil stockpiles and an Iranian missile test settling at $136.05 a barrel on the New York Mercantile Exchange.The Dow fell 236.77, to 11,147.44 a day after rising more than 150 points.The dollar fell against other major currencies and Gold prices rose.Indian politics still not settled and even though Mulayam seems to have given his support to the government, there is not guarantee that government will survive and until the government prove their majority, uncertanity will continue in the market.For today, nifty above 4165 will face strong hurdle at 4220-4245 and below 4160 will have strong supports at 4115 and then 4060.

Stock watch for the day:

ICICI Bank (622): Short this stock around 630-635 with stop 645 for target 615-610