Intraday call performance 21/07/08

Volatile day ending with bullish note

Though market started trading above 4100, it was not moving much in the morning session ahead of the vote of confidence motion for the government survival tomorrow and also volume was low and then it turned very volatile and then Later on in the afternoon session, buying came in which lifted the market above 4150 to make a high of 4168.On the global front, Asian markets finished strong and European markets have bounced back in mid session.Stocks like Cipla, Maruti Suzuki, ICICI Bank, Ranbaxy did well today, while losers were Satyam Computer, Ambuja Cements, L&T, BHEL etc.Tomorrow is a big day for indian market now.All indictaions of government survival is there at this moment and also this news was taken very nicely by market today.

Stock watch for the day:

RCom : This was given a short call with stop loss 460 for atregt430 and the low recorded in this stock was 430 and high 457

Following calls were given in yahoo messenger for clients:

Clients had a very decent day of profits today

Buy Nifty Futures around 4120 with stop loss 4103 and then coveerd around 4116 with small loss

Short Nifty Futures around 4115 with stop 4125 for 4090 made 4092

Buy Nifty Futures around 4095 with stop loss 4089 made 4104 and came down to hit 4086 and then zoomed above 4150..!

Buy Bombay Dyeing around 550 with stop loss 545 for target 565 and it made 561

Short BGR Energy around 314 with stop loss 320 for target 300 and it made 299

Short Tata Steel around 608 with stop loss 615 for target 590 and it made 593

Short India Info around 635 with stop 638 and it made 626

Short Kotak Bank around 484 with stop 487 for target 475 and it hit 474

Market Outlook 21/07/08

Market will witness uncertain moves

Though Indian market closed positive on friday, lot's of volatility is expected today with heavy political actions with government survival is still a big question mark now..!! Global factors are a little positive only and Oil rose towards $130 a barrel after its biggest one-week slide on record as inconclusive talks between Iran and world powers over Tehran's disputed nuclear programme dimmed prospects of ending the row.U.S. light crude for August delivery was up 91 cents at $129.79 after rising as much as $1.18 earlier, a small bounce from last week's over $16 slump, the biggest decline in dollar terms since futures began trading in New York in 1983. In percentage terms it was the steepest sell-off since late 2004.The Dow Jones industrial average rose 49.91 points to 11,496.57.Today and tomorrow these factors may not effect our market much unless theer comes a very big news.Our political activities have reached it's peak now as both the govt and anti parties are claiming they have numbers and it makes us remember the time Mr.Vajpayee lost the confidence motion by a single vote..!!
Will the history repeat itself..! only time can tell now .For today, on higher opening go short.If nifty moves above 4115, it will move to 4180 first big resistance and then 4220 will be very tough resistance to cross and if nifty remains below 4115, it will remain weak only and testing 4050 and 3990 may be on cards then.

Stock watch for the day:

RCom (435): Short this at higher levels with stop loss 460 for targets 430-425