Intraday call performance 14/07/08

Market closing flat with no direction..!

Though market opened above 4000 and was trading in a small range, it recovered later and even made a high of 4118 and then at the final hours of trading lost all the gains and closed again around yesterday's closing.Today Ambani brothers meeting Sonia Gandhi bought some moves in R-Group stocks which were trading low.Stocks like Infosys, TCS, BHEL, Satyam, Bharti Airtel, ITC, HDFC were all trading negative while Reliance Ind, ONGC, SBI, Tata Steel, L&T were all positive today.It seems that indian market will move little up and more down till the government comes out in clear numbers to prove the majority .

Stock watch for the day:

BHEL: This was given a short call with stop loss 1560 for target 1480 and it made low of 1460

Following calls were given in yahoo messenger for clients:

Good trading day for my clients today

Short Nifty Futures around 4030 with stop 4050 and it made just 4023 and then stop loss hit

Short Nifty Futures around 4065 with stop 4090 and it made 4028

Short Reliance Capital around 1035 with stop 1056 and it made just 1028 and then stop loss hit

Short Suzlon around 207 with stop 212.5 made 195....superb profit

Short Kotak around 505 with stop 511.5 and it made 491....very good profit

Short Vijaya Bank at 34.5 with stop 34.85 and it made 33.70....good profit

Short ONGC around 890 with stop 896 for target 878 and it made 882...just 4 short of my first target

Market Outlook 14/07/08

Interesting week ahead for market

Market crashed on friday with high inflation and crude oil and will resume again today with weak global cues.The Dow Jones industrials on Friday briefly fell below 11,000 for the first time in two years settling at 11,100.54 and the oil prices on Friday soared to a new trading record above $147 a barrel, following the two-day pullback back of nearly $10 a barrel Monday and Tuesday.With political uncertainty continuing, indian stock market is weak and facing selling at every raise.This trend may continue till the day of vote of confidence motion.Investors seems to be more scared in investing now, though market is at an attractive lower end and in oversold condition. Market just needs one trigger to move strongly on upper side.But now, sentiments are negative and for today on upper side nifty will face definite resistance at 4090-4115 and on downside 3990 will be strong support for today and break below that may go to 3940 support.If there is lower opening above 3850 buying might come and don't short blindly on lower side.

Stock watch for the day:

BHEL (1521): Short this stock at higher levels with stop loss 1560 for target 1500-1480