Intraday call performance 16/07/08

Market continuing its downtrend and closing in red again..!

Market opened weak today and though made a slight recovery going above 3900, it lost ground and later on broke 3800 also to make a low of 3790 showing signs of more pain in the market.As told, till government proves it's majority market will not be stable and go on facing pressure on every raise now.Reliance Industries, HDFC, SBI, Tata Steel, ICICI Bank, DLF and Unitech were biggest draggers for both indices.Market breadth was weak; about 932 shares have advanced while 1979 shares declined. Nearly 237 shares remained unchanged.European markets were trading sharply lower on the back of selling pressure in banking stocks.So, coming day's will see lot's of volatility

Following calls were given in yahoo messenger for clients:

Clients had a great day today with massive profits on my calls

Short Nifty Futures around 3890 with stop 3900 and told to cover around 3820....Huge Profits

Short Adlabs around 410 with stop 420 for target 398-390 made 385....Huge Profits

Short Tisco around 660 with stop 666 for targets 640-626 and it made 617....Huge Profits

Short Suzlon around 192-193 with stop 197.2 for targets 185-180 and it made just 185....Good Profits

Short India Info around 613 with stop 617 taregt 600-575 and it made 576 exact....Huge Profits

Short ONGC around 871 with stop 876 for target 855 and it made 853....Good Profits

Market Outlook 16/07/08

Market in selling pressure even as crude dipping

yesterday it was a very bad for indian market as nifty broke strong support of 3850 and appear to be marching towards my target of 3600 given long back.Indian political uncertainity is continuing with government is clearly falling short of clear majority now and struggling a lot to show the clear numbers for staying in power and so, 22nd of this month will be the deciding factor.A barrel of light, sweet crude dropped $6.44 to settle at $138.74 on the New York Mercantile Exchange as traders bet that the weak economy in the United States and elsewhere will take its toll on global demand.The Dow Jones industrials on Tuesday had their first close below 11,000 since July 2006.The Dow fell 92.65, or 0.84 percent, to 10,962.54,trading at nearly two-year lows.Dow breaking 11000 is bad news and here nifty broke 3850 strong support.Let me tell you one thing here-NIFTY HAS STRONG SUPPORTS AT 3600-3500 RANGE (MY TARGETS GIVEN LONG BACK) AND SHOULDN'T BE BROKEN AT ANY COST AND IF BREAKS ANYTIME WE CAN SEE STRAIGHT 3000-3100 LEVELS.For today, if nifty breaks 3885, it will move towards 3940 resistance zone and selling will definitely come around that level and on downside if nifty breaks 3850, then move twoarsd 3800-3765 is a strong possiblity for today.

Stock watch for the day:

Today's calls only for the clients